The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Stephen Hamilton. According to his publicly available FINRA BrokerCheck report, Stephen Hamilton has been the subject of multiple customer disputes over the course of his career.

Stephen Hamilton is a New York-based securities broker. He has worked in the securities industry for twenty-eight years. During his career, he has been registered with eleven different securities firms.

His Registrations

  • F.N. Wolf & Co. (1991-1993)
  • Merrill Lynch (1993-1994)
  • Painewebber Incorporated (1994-1995)
  • Ladenburg, Thalman & Co. (1996, 1996-2005)
  • Oppenheimer & Co. (1995-1996)
  • Ladenburg Capital Management (2001)
  • Robert R. Merideth & Co. (2005)
  • Safdie Investment Services Corp. (2005-2009)
  • Laidlaw & Company (2009-2019)
  • Revere Securities (2019-Present)

The Allegations 

  • In May 1997, a customer alleged that Stephen Hamilton executed unsuitable trades, churned their account, and breached his fiduciary duty. This case was settled for $39,000 in damages.
  • In March 1999, a customer alleged that Stephen Hamilton recommended unsuitable investments, churned their account, made material misrepresentations, and breached his fiduciary duty. This case was settled for $890,000 in damages.
  • In July 1999, a customer alleged that Stephen Hamilton failed to execute orders. This case was settled for $94,000 in damages
  • In November 2000, a customer alleged that Stephen Hamilton executed unauthorized transactions.
  • In December 2003, a customer alleged that Stephen Hamilton made material misrepresentations and engaged in an unauthorized use of margin.
  • In July 2018, a customer alleged that Stephen Hamilton did not follow his instructions. This case is currently pending. The customer is seeking $100,000 in damages.

What Does This Mean?

Securities brokers are required to follow any instructions given to them by their customer–provided those instructions are in the best interest of said customer. Brokers do have the ability to protect customers from themselves if they receive outrageous instructions; however, this only occurs in very rare and extreme cases. Most of the time, when an investor provides their broker with instructions, they are reasonable and financially suitable for the investor. When a securities broker fails to follow these types of instructions, it can often result in the investor experiencing what is referred to as lost opportunity. This is when an investor wanted to be placed in a particular security that did indeed rise, however, the broker failed to follow the customer’s instructions to invest in that security and thus the customer missed out on the returns they had been expecting.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Stephen Hamilton, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.