There are options for clients of Wells Fargo broker Robert Palatella (CRD# 1492207) who suffered investment losses. He has been registered with Wells Fargo Clearing Services, LLC in La Jolla, California, since 2017. He was registered with Morgan Stanley in La Jolla, California, from 2009 to 2017.
Robert Palatella Customer Complaints
He has been the subject of three customer complaints between 2004 and 2024, according to his CRD report. The most recent complaints were regarding:
March 2024. “Claimant alleges that in 2021, the Financial Advisor made unsuitable securities recommendations for her investment experience and risk tolerance.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint took place while he was registered with Wells Fargo.
February 2022. “Client complained the financial advisor did not timely execute an order to redeem shares, which resulted in losses due to the limited redemption window. (12/7/2021-2/24/2022).” The case was settled for $27,372.18. The complaint was regarding mutual fund losses, and it took place while he was registered with Wells Fargo.
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, Wells Fargo may be liable for investment or other losses suffered by Robert Palatella’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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