The attorneys at Eccleston Law are actively seeking investors who suffered losses investing with Long Grove, Illinois financial advisor Steven Delott of Delott & Associates, Inc. According to the Illinois Securities Department, Steven Howard Delott was a registered representative of NFP Securities, which he disclosed Delott & Associates as an outside business activity.
According to the Illinois Securities Department, FINRA was investigated Steven Delott's Workshops and Annuity Training Classes that he conducted while a representative with NFP Securities, which resulted in a FINRA enforcement action against Delott for allegedly violating FINRA rules. On February 17, 2010, Steve Delott entered into an AWC with FINRA which details the numerous alleged violations of NASD rules.
Specifically, the AWC describes Delott as conducting seminars directed at senior citizens that focused almost exclusively on inducing seniors to purchase high commission equity indexed annuities ("EIAs"), as well as sales of single premium life insurance policies. Delott also allegedly promoted reverse mortgage strategies to obtain more money from seniors to place in the annuities. Steven Delott is also believed to have conducted annuity training classes to instruct attendees in the use of high-pressure and allegedly improepr sales techniques. The marketing materials used during these seminars was not approved by NFP securites.
Steven Delott was subsequently prohibited from associating with any FINRA member firm and assessed a deferred fine of $35,000. On August 10, 2011, Steven Delott was also prohibited from offering or selling any securities in the State of Illinois.
Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by securities fraud, unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.
If you are an investor that has suffered losses investing with Steven Delott or Delott & Associates , please contact one of our attorneys at 312-332-0000 to discuss your recovery options.
FinancialCounsel.com, hosted by James J. Eccleston, is a companion website to this blog, along with EcclestonLaw.com. It contains complementary material of general interest to investors and financial services professionals. Investors will find material on securities arbitration to recover investment losses; industry and financial markets intelligence; and strategies for estate planning. Professionals have access to material on broker/adviser registration, regulation, compliance and disciplinary proceedings; industry and financial markets intelligence; strategies for estate planning; and broker/adviser employment litigation and injunctions, including defamation and non-competition/solicitation issues. 
