Patrick M. Dever, of West Chester, Pennsylvania, a stockbroker registered with Stifel Nicolaus Company Incorporated, was the subject of a customer initiated investment related complaint filed on September 6, 2024, in which the customer requested $1,000,000.00 in damages based upon allegations that Dever made the unsuitable investment recommendation of securities and charged excessive fees on Unit Investment Trusts (“UITs”) when Dever was associated with Stifel Nicolaus Company Incorporated.
This is not the first time that Dever has been referenced in a customer initiated investment related dispute concerning Dever’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Dever was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $65,000.00 in damages based upon allegations that Dever made unsuitable recommendations in unit investment trusts, stocks, and mutual funds when Dever was associated with Morgan Stanley Co. FINRA Arbitration No. 10-03442 (August 17, 2011).
On August 14, 2018, another FINRA securities arbitration claim involving Dever’s conduct was settled for $21,041.91 in damages based upon allegations that Dever made unsuitable recommendations in over-the-counter equities when Dever was associated with Stifel Nicolaus Company Incorporated. FINRA Arbitration No. 18-01849.
Dever has been associated with Stifel Nicolaus Company Incorporated in West Chester, Pennsylvania since October 30, 2014.
