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WARNING! Impending Investigation: STEVEN KNUTTILA – Perham, MN


WARNING! Impending Investigation: STEVEN KNUTTILA – Perham, MN

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WARNING!  Impending Investigation:  STEVEN KNUTTILA – Perham, MN

Steven Knuttila, formerly of Capital Financial Services, Barred by Minnesota


Have you lost money with financial advisor Steven Knuttila of Perham, Minnesota?  We are investigating allegations made by the Minnesota Commission of Commerce, against Steven R. Knuttila. Minnesota alleged that Knuttila made unsuitable investment recommendations to his customers, barred him from the securities industry, and fined him $40,000.


The Minnesota Department of Commerce alleged sold to numerous clients investments in REITs (real estate investment trusts), equipment leasing investments, and oil and gas partnerships.  He was alleged to have sold investments in Cypress Equipment Fund, U.S. Energy Partners, Coachman Energy, and others.  Minnesota alleged that these investments were risky and not suitable for many investors, including the elderly.


Steven Knuttila was a financial advisor and registered representative of Capital Financial Services from June 2012 to December 2017.  He also worked with Questar Capital Corp. from December 2006 to June 2012.  He worked at a branch office in Perham, Minnesota.  Knuttila’s BrokerCheck report discloses that he was the subject of 22 customer complaints, many alleging misrepresentations and unsuitable trades.


Brokerage firms like Capital Financial Services have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.


Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings in all 50 states, including numerous investors in Minnesota in the past, such as victims of the Levi Lindemann scam. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Capital Financial Services and Questar Capital Corp.


Click to view:  Knuttila, Steven Minnesota Order

Click to view:  Knuttila, Steven BrokerCheck 6.11.18


If you lost money with Steven Knuttila or Capital Financial Services, please CONTACT US at 720-599-3505 for a free evaluation of your case.



Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.


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