Robert Earl Stanlick, of Colorado Springs, Colorado, a stockbroker associated with Presidential Brokerage Inc. (also known as Forta Financial Group Inc.), was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $34,000.00 in damages based on allegations that Stanlick engaged in breach of fiduciary duty, negligence, and unsuitable recommendations of variable annuities, non-traded Real Estate Investment Trusts or REITs, and BDCs between May 2012 and January 2021. FINRA Arbitration No. 21-00182 (February 23, 2022).
This is not the first time that Stanlick has been referenced in a customer initiated investment related dispute concerning Stanlick’s conduct in the securities industry. FINRA Public Disclosure shows that Stanlick was also referenced in a customer initiated investment related complaint filed on September 16, 2002, in which the customer requested compensatory damages. Stanlick allegedly made unsuitable investment recommendations of mutual funds when Stanlick was associated with U.S. Bancorp Piper Jaffray Inc. The complaint was ultimately denied on March 6, 2003.
On February 23, 2022, another customer initiated investment related FINRA securities arbitration claim involving Stanlick’s conduct was settled for $30,000.00 in damages. The allegations include unsuitable recommendations of non-traded REITs and BDCs, negligence, misrepresentations, omissions, breach of fiduciary duty, and failure to perform proper due diligence on investments between April 2014 and February 2020 when Stanlick was associated with Forta Financial Group. FINRA Arbitration No. 20-00574.
Stanlick has been associated with LPL Financial LLC in Colorado Springs, Colorado, as of July 5, 2023.