Larry C. Wolfe, of Boca Raton, Florida, a stockbroker with Herbert J. Sims & Co., Inc., is the subject of an investment related customer initiated arbitration claim before the Financial Industry Regulatory Authority where the customer is seeking $1,500,000.00 in damages based upon the allegations that Wolfe engaged in fraudulent omissions and misrepresentations concerning investments, unauthorized trading of the customer’s account, and made unsuitable investment recommendations.
FINRA’s BrokerCheck also reveals that Wolfe has been subject to several other customer disputes. On February 6, 1991, a customer was awarded $71,000.00 in damages after Wolfe was alleged to have made unsuitable investment recommendations. On May 17, 1991, Wolfe settled a customer dispute for $40,000.00 after the customer alleged losses associated with Wolfe improper placing of the customer’s monies into low quality securities and active trading in the customer’s account.
On May 9, 2001, Wolfe settled a customer dispute for $20,000.00 after the customer alleged that purchases of bonds made in the customer’s account were unauthorized and unsuitable. The customer additionally alleged that Wolfe excessively traded the customer’s account. On April 6, 2010, Wolfe settled a customer dispute for $99,500.00 after the customer alleged that Wolfe breached his fiduciary duty to the customer and engaged in the unauthorized trading of the customer’s investments.
On April 24, 2013, Wolfe settled another customer dispute for $18,330.14 after the customer alleged that Wolfe engaged in unsuitable and unauthorized trades in the customer’s account. On December 7, 2015, Herbert J. Sims & Co. Inc. terminated Wolfe amid allegations of Wolfe exercising discretion in accounts without obtaining requisite authority and trading in customer’s accounts despite not having spoken with customers prior to effecting such trades. Wolfe was associated with Aegis Capital for approximately one month between March and April 2016, and is presently registered with Stoever Glass & Co., Inc.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
