Were you the victim of former Cetera Advisor Networks, LLC broker Robert Wolfe (CRD# 2268259)? Robert Wolfe was registered with Mercer Allied Company, L.P. in Fort Lauderdale, Florida from July 2020 to October 2021. Robert Wolfe was also registered with Goldman Sachs & Co. LLC in Fort Lauderdale, Florida from July 2020 to October 2021, when he was terminated regarding, “Allegations involving client communications related to portfolio performance and market valuations; and handling and resolution of customer grievances without the knowledge and approval of his employer.” Previously, Robert Wolfe was registered with Cetera Advisor Networks LLC in Fort Lauderdale, Florida from 2017 to 2020.
Robert Wolfe Faces Multiple Suitability Complaints
Robert Wolfe has been the subject of five customer complaints between 2020 and 2021, one of which was denied, according to his CRD report:
- September 2021. “In a claim brought against Cetera Advisor Networks, LLC, the broker dealer Mr. Wolfe was registered with and the firm where the activities took place, Claimant alleged that Mr. Wolfe made unsuitable investment recommendations while he was registered with that prior firm and did not provide adequate information regarding the risk associated with these investments. The claim also alleged that the prior firm did not perform adequate due diligence on products sold or provide proper supervision.” The customer is seeking $100,000 in damages and the case is currently pending. The complaint took place while Cetera Advisor Networks, LLC and was regarding fixed annuities, variable annuities, direct investments, and real estate securities.
- August 2021. “Claimants alleged that Mr. Wolfe made unsuitable investment recommendations and did not disclose information relating to the investments.” The case is currently pending. The complaint took place while Cetera Advisor Networks, LLC and was regarding fixed annuities, variable annuities, direct investments, and real estate securities.
- August 2020. “In a claim brought against a prior firm, Claimants alleged that Mr. Wolfe made unsuitable investment recommendations while he was registered with that prior firm and did not provide adequate information regarding the risk associated with these investments. The claim also alleged that the prior firm did not perform adequate due diligence on products sold or provide proper supervision.” The case was settled for $170,000. The complaint took place while Wolfe was registered with Cetera Advisor Networks, LLC and was regarding real estate securities and private placements.
- August 2020. “In a claim brought against a prior firm, Claimants alleged that Mr. Wolfe made unsuitable investment recommendations while he was registered with that prior firm and did not provide adequate information regarding the risk associated with these investments. The claim also alleged that the prior firm did not perform adequate due diligence on products sold or provide proper supervision.” The case was settled for $140,000. The complaint took place while Cetera Advisor Networks, LLC and was regarding real estate securities and private placements.
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, Cetera Advisor Networks, LLC may be liable for investment or other losses suffered by Robert Wolfe’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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