Stephen Wood Allegedly Breaches His Fiduciary Duty

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

Stephen Wood was a New Jersey-based securities broker. He worked in the securities industry for thirty-two years. During his career, he was registered with four different securities firms. He is not currently working as a registered securities broker in any fashion.

His Registrations

• Merrill Lynch (1984-2006)


• Citigroup Global Markets (2006-2009)


• Morgan Stanley (2009-2013)


• UBS Financial Services (2013-2017)

The Allegations

• In November 1997, customers alleged that Stephen Wood placed unsuitable investments in their account. This case was settled for $29,750 in damages.


• In April 2017, customers alleged that Stephen Wood recommended unsuitable securities, breached his fiduciary duty, committed fraud, made material misrepresentations, violated the New Jersey Securities Act, handled their account negligently, and breached contract. This case went to arbitration where the customer was awarded an undisclosed amount in damages.

Stephen Wood was eventually barred by FINRA from acting as a securities broker in any fashion.

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 Wood, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.