Stifel Nicolaus Financial Advisor, Robert Cleary, The Subject Of A Customer Complaint Alleging Breach Of Fiduciary Duty

The Wolper Law Firm is currently investigating claims against Robert Cleary, a Financial Advisor at Stifel Nicolaus in New York, NY.  Robert Cleary has been in the securities industry since the 1980s and previously worked for Gruntal & Co.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on May 17, 2018, a customer filed a complaint against Robert Cleary, alleging “breach of fiduciary duty, negligence and breach of contract.”  The alleged damages are $300,000.  In 2016, Robert Cleary was the subject of another customer complaint for “inappropriate investment recommendations”, which was settled for $40,000.

https://brokercheck.finra.org/individual/summary/1505792#disclosuresSection

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives.  Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

If you or someone you know was a customer of Robert Cleary and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@67.43.6.64 to discuss your specific situation and the legal options available.  The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.

Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.  Simply put, he knows how the other side evaluates cases, which gives you a competitive advantage.