Allegations Regarding Steven Schwartz’s BrokerCheck Report

According to BrokerCheck, a website maintained by FINRA, Steven Schwartz has been the subject of two customer complaints.  A 2026 complaint alleges that he recommended unsuitable, high-risk, speculative, and illiquid investments from 2016 to 2023.  The customer has alleged $1.4 million in losses, which allegedly came from real estate investments, private placements, and BDCs (business development companies).  Schwartz has denied all wrongdoing, according to BrokerCheck.

Background on Steven Schwartz

Steven Schwartz had been licensed with Centaurus Financial since 2010 at a Mercer Island, Washington office.  He was terminated by MetLife Securities in May 2010.

Can Centaurus Financial Be Responsible for Schwartz’s Conduct?

Under FINRA Rule 3110, broker-dealers like Centaurus Financial must reasonably supervise the activity of its advisors.  Centaurus Financial could be responsible for investor losses if it failed to reasonably supervise him.

Israels & Neuman Helps Investors Nationwide, Including in Washington

We represent investors throughout Washington, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  Attorney David Neuman is licensed to practice law in Washington, and we have an office in Seattle.   If you were a client of Steven Schwartz and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Schwartz’s BrokerCheck Report

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