Category Archives: Questar Capital Corporation

Steven Knuttila-Former Capital Financial Services Broker-Discloses 2 Regulatory Events, 23 Customer Suits and a Termination-Perham, MN

March  2019 – Perham, MN

According to public records of Steven Roland Knuttila (CRD#3039112)  a  stockbroker previously employed by Capital Financial Services, Inc., disclose 2 regulatory events, 16 pending customer disputes, 23 prior customer disputes and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In June of 2018 Knuttila consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony relating to an investigation into allegations that he made unsuitable recommendations to customers.     As a result of this Knuttila has been permanently been barred from the securities industry by FINRA.

In April of 2018,  a regulatory action was initiated by the state of Minnesota alleging that Knuttila sold unsuitable investments to numerous clients.   Sanctions include a $40,000 in monetary penalties.  

From September 2010 until September 2018, twelve customer disputes were filed by customers of Questar Capital Corporation and Capital Financial Services, Inc. alleging various wrongdoing by Knuttila including  negligence, violations of the MN Uniform Securities Act, common law fraud, misrepresentation, breach of contract, unsuitable recommendations,  and breach of fiduciary duty.   The total paid out to settle these prior customer disputes was in excess of $1.78 million.

There are currently 16 pending customer suits  filed by customers of Questar Capital Corporation and Capital Financial Services, Inc. alleging various wrongdoing by Knuttila, including  unsuitable sales of alternative investments, breach of fiduciary duty, breach of contract, common law fraud, negligent hiring, poor investment advice, fraud, deceit, misrepresentation and omission of facts.   The alleged damages in these cases total more than $1.86 million .

Knuttila was with Capital Financial Services, Inc. from 6/2012-12/2017.   He also is the President and owner of Knuttila Financial Services. Prior to that he was with Questar Capital. In May of 2012, Knuttila was terminated from employment by Questar Capital Corporation after allegations that he failed to follow firm procedures regarding the reporting of customer complaints and he failed to follow firm procedures regarding the use of discretion.  

If you have questions about an account handled by  Steven Knuttila, contact us for a no charge consultation to learn how you may be able to recover damages from his employer through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Stephen L. Swarbrick-Questar Capital Broker-Discloses Customer Complaint Over Oil & Gas Investments-Roseville,CA

Roseville, California

UPDATE JUNE 2017-In January 2017 a customer of Woodbury Financial and Questar Capital Corp. filed a complaint with the CA Department of Business Oversight alleging unsuitable sales for $400,000 in equipment leasing and oil and gas partnerships from 12/2009-6/2014.

ORIGINAL POST-July 2016

We are investigating the sales practices of Questar Capital Corporation stockbroker Stephen L. Swarbrick, who is affiliated with Weston and Tuttle Wealth Advisors, on behalf of an elderly retired couple who were sold various alternative investments, including the following:

  • Cypress Equipment Fund 16 LLC
  • Strategic Energy Income Fund III
  • Atlas Resource Series 31-2011 LP

According to FINRA recordsStephen L. Swarbrick has been employed by Questar Capital Corporation since 10/2012. Prior to that he was employed by Woodbury Financial Services from 9/2003-10/2012.

If you were a client of  Stephen L. Swarbrick and have experienced losses in alternative investments or have information you believe may be relevant to this investigation, please contact us.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Investigation of Broker Jennifer Trowbridge-Essex Securities, Boynton Beach, FL

January 12, 2015- Boynton Beach, Florida

Jennifer J. Trowbridge  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that she made unsuitable sales and purchases in customer accounts and that she effected discretionary trades in a customer account.

According to the AWC, Trowbridge’s violative conduct includes:

  • Recommending mutual fund switches without having reasonable grounds for believing such transactions were suitable for the customer
  • Effecting discretionary trades, with the customer’s verbal consent, but without obtaining written consent

Trowbridge was suspended by FINRA for two months and fined $10,000.

According to FINRA records, Trowbridge is not currently registered. She  was previously registered as follows:

  • Questar Capital          9/2012-11/2014
  • Essex Securities           1/2010-9/2012
  • Investors Capital          8/2005-12/2009

FINRA Case # 2011025433902

Prior blog post re: :Jennifer Trowbridge. 

If you had an account with Jennifer Trowbridge that suffered losses due to unsuitable mutual fund switching, discretionary trading (trading without your permission) or for other reasons, you may be able to recover damages from the brokerage firm employing Trowbridge. Call to speak with an experienced securities attorney.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Deerfield, Florida Broker Andrew Lewis Pittman Barred by FINRA

Deerfield Beach, Florida

In a recent FINRA case (#2011029315301), Andrew Lewis Pittman, a broker from Deerfield Beach, Florida entered into an Acceptance Waiver and Consent with the Financial Industry Regulatory Authority, and agreed to a bar from the industry.

According the FINRA document, during the course of an ongoing FINRA investigation regarding allegations that Pittman had improperly used a customer’s funds and was appointed Power of Attorney for the customer, Pittman refused to provide on-the-record testimony as required by FINRA rules.

The FINRA document indicates that Pittman was employed by Sammons Securities most recently. He previously worked for Questar Capital from August 2011 until October 2011, when Questar terminated him. Prior to his short stay at Questar, Pittman worked for Allstate Financial from June 2007 through August 2011.

If you have questions about the way your brokerage account has been handled, call Rex Securities Law for a no charge consultation.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900