Robert Nathan Schultz of Houston Texas a stockbroker formerly registered with Wells Fargo Clearing Services is referenced in a customer initiated investment related complaint on July 14, 2020, in which the customer requested $35,000.00 in damages founded upon allegations that they had been placed into aggressive investments by Schultz during the time that he was associated with Wells Fargo Advisors. According to the claim, the customer sustained losses in their variable annuity between January 28, 2015, and April 14, 2020.
This is not the first customer to have alleged bad sales practices by Schultz while he was registered with a securities broker dealer. Financial Industry Regulatory Authority (FINRA) Public Disclosure also shows that a customer initiated investment related FINRA securities arbitration claim concerning Schultz’s conduct was settled for $275,000.00 in damages based on accusations that excessive and unsuitable trades were made by Schultz when he was associated with UBS Financial Services. FINRA Arbitration No. 16-02679 (October 6, 2017). The claim alleges that the customer sustained damages on bond funds, municipal bonds, treasuries, GSEs, REITs, MLPs, preferred stocks, ETFs, mutual funds, and equities.
Since January 5, 2015, Schultz has been registered with Wells Fargo Clearing Services as a stockbroker and investment adviser representative.