Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Thornton (Thornton), currently associated with Centerpoint M & a Advisors, INC. / Efcg Transaction Services LLC / Compak Securities, INC. / Incline Advisors / the Spartan Group / Shorelineambrose Advisors, LLC / Mainspring Capital Management, LLC / Transitional Broker LLC / Lesko Securities INC. / Centerboard Securities, LLC / Avendus Capital, INC. / Marks Baughan Securities LLC / Capitala Securities, LLC / Equity Hill Capital, LLC / Mit Associates, LLC / Apexus Capital LLC / Fmi Capital Advisors, INC. / Arcstone Securities LLC / Private Placement Insurance Products, LLC / Valtus Capital Group, LLC / Innovation Capital, LLC / Tcfg Wealth Management, LLC / Lighthouse Capital Group, LLC / Portum Capital LLC / Augment Capital, LLC / Trinity Wealth Securities, L.l.c. / Kal Capital Markets LLC / Globalink Securities, INC. / Direct Realty Securities, INC. / Analyst Hub Securities, LLC / Wbb Securities, LLC / Bdo Capital Advisors, LLC / Exchangeright Securities, LLC / Wildridge Securities / Syndicated Capital, INC. / Nextrend Securities, INC. / Belzberg Capital / Tfa Securities, INC. / Pariter Securities, LLC / Bren Ventures LLC, has at least one disclosable event. These events include one customer complaint, alleging that Thornton recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on March 21, 2026.
In September 2022, the [REDACTED] family sold their Brooklyn property and, seeking conservative investments, entrusted TCFG Wealth Management and its representative, Scott Offerman, with the proceeds; Offerman instead recommended investing $3.3 million (about 85% of their assets) in two high-risk, illiquid Delaware Statutory Trusts (DSTs) from Inspired Health Capital, misrepresenting them as low-risk and suitable for a 1031 exchange.???? Despite the [REDACTED] risk aversion, TCFG failed to conduct proper due diligence and overconcentrated their assets, exposing them to significant risks.?? By July 2025, Inspired Health Capital halted investor distributions amid SEC scrutiny, and in February 2026, filed for bankruptcy, making recovery of the [REDACTED] investment unlikely.? The claim alleges breach of fiduciary duty, negligence, negligent supervision, fraud, breach of contract, and securities law violations, seeking damages estimated between $1 million and $5 million.?? \<char_lb_r>\, \<char_lb_r>\, Thornton to be dismissed as he is not a Series 24 principal, has no supervisory responsibilities, does not supervise the rep, has never met the customer and was not involved in any part of the approval of the issuer&#39;s offering or the transactions in question.