Options for Clients of Wintrust Investments LLC Broker Stephen Sperling

Wintrust Investments LLC

Wintrust Investments LLC broker Stephen Sperling (CRD# 3061073) is accused of real estate investment trust (REIT) losses. He has been registered with Wintrust Investments LLC in Palatine, Illinois, since 2007. 

Stephen Sperling Customer Complaints

He has been the subject of six customer complaints between 2004 and 2023, one of which was withdrawn, two were closed without action, and one was denied, according to his CRD report:

July 2023. “Allegation is that Mr. Sperling made unsuitable recommendations for the clients to invest a significant portion of their assets in non-traded REITs, failing to provide full disclosures as to the risks associated with these investments and did not educate the clients to the illiquid nature of these investments.” The customer is seeking $100,000 in damages, and the case is currently pending. 

May 2023. “Representative Sperling inexplicably recommended that Ms. Botkin allocate a significant portion of her personal and/or trust assets in non-traded investment vehicles that were high risk investments, and inconsistent with her risk tolerance. Representative Sperling allegedly described these investments as safe, conservative, and income producing and did not explain or disclose the risks including lack of liquidity, lack of transparency or the nature of the complex alternative investments.” The customer is seeking $100,000 in damages, and the case is currently pending. 

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Wintrust Investments LLC may be liable for investment or other losses suffered by Stephen Sperling’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

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Author: Jeffrey Erez

The founder of Erez Law, Jeffrey Erez, focuses exclusively on securities arbitration and litigation. Mr. Erez passionately believes in representing aggrieved investors and obtaining justice for his clients through litigation.