Robert Paul Friedman of Berwyn Pennsylvania a stockbroker currently registered with Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $12,000.00 in damages founded on accusations that (1) Friedman made investment recommendations to the customer that were not suitable and placed the customer in speculative investments and (2) Friedman led the customer to believe that the annuity purchased would pay income for life when the annuity eventually became worthless. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01396 (Apr. 9, 2018).
FINRA Public Disclosure additionally confirms that on July 19, 2001, a customer filed an investment related complaint concerning Friedman’s conduct in which the customer sought $7,000.00 in damages based upon allegations that while Friedman was associated with First Union Securities Inc., he placed an unauthorized over-the-counter equities order in the customer’s account and caused the customer to suffer unwarranted investment losses.
FINRA Public Disclosure further reveals that one of Friedman’s former brokerage firm employers, Legg Mason Wood Walker Incorporated, terminated Friedman’s registration supported by accusations that Friedman caused a customer’s signature to be forged on certain account documentation including requests for the transfer and disbursement of the customer’s funds.
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