Robert Brian Wolfe, of Fort Lauderdale, Florida, a stockbroker formerly registered with Goldman Sachs Co. LLC, was discharged as a stockbroker on September 30, 2021, founded on accusations of Wolfe’s handling of customer complaints without notifying Goldman Sachs Financial Management. Wolfe was also accused of activities relating to customer communications centered around market valuations and portfolio performance.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Wolfe has been identified in five additional customer initiated investment related disputes regarding accusations of his wrongdoing while employed by Cetera Advisor Networks LLC and United Capital Financial Advisers. On September 8, 2020, a customer filed an investment related complaint involving Wolfe’s conduct in which the customer sought $51,526.03 in damages based upon allegations of Wolfe’s failure to disclose information concerning closed-end funds transactions during the time that he was associated with United Capital Financial Advisers. According to the complaint, Wolfe gave unsuitable recommendations to the customer.
Wolfe is the subject of a customer initiated investment related arbitration claim which was settled for $170,000.00 in damages supported by accusations of unsuitable advice, breach of contract, breach of fiduciary duty, and the failure to undertake adequate due diligence relating to private placements and real estate securities when Wolfe was employed by Cetera Advisor Networks LLC. FINRA Arbitration No. 20-02199 (February 26, 2021).
On March 15, 2021, a different customer initiated investment related arbitration claim concerning Wolfe’s conduct was resolved for $140,000.00 in damages founded on allegations of unsuitable alternative investment recommendations by Wolfe while he was registered with Cetera Advisor Networks. FINRA Arbitration No. 20-02380. According to the claim, Wolfe failed to perform due diligence before recommending alternative annuities. Cetera Advisor Networks allegedly failed to supervise Wolfe. The claim also contains accusations of breach of fiduciary duty and breach of contract.
On August 12, 2021, another customer filed an investment related arbitration claim regarding Wolfe’s activities where the customer requested compensatory damages based upon allegations of omissions and unsuitable advice pertaining to the customer’s investments in private placements, real estate securities, variable annuities, and fixed annuities when Wolfe was associated with United Capital Financial Advisers.
Wolfe is also referenced in a customer initiated investment related arbitration claim in which the customer sought between $100,000.00 and $500,000.00 in damages supported by accusations of Wolfe failing to tell the customer about the risks pertaining to a real estate security and direct investments, including DPPs or LPs. According to the claim, insufficient due diligence was undertaken into the alternative investments. Allegations also include unsuitable recommendations by the stockbroker.
Wolfe was employed by Cetera Advisor Networks between November 1, 2017, and June 30, 2020. He was registered with Mercer Allied Company LP and Goldman Sachs Co. between July 1, 2020, and October 7, 2021.
