Carlson Law Represents Several Chuck Roberts Clients Against Stifel

Carlson Law is representing several former clients of Chuck Roberts (CRD# 2064602), a Miami Beach-based financial advisor licensed with Stifel, Nicolaus & Company. Roberts is the Managing Director of the CR Wealth Management Group. Our firm currently has one pending arbitration for a family based in Los Angeles and is planning on filing a second arbitration for a family in New York.

Our claims alleges that Roberts and Stifel overconcentrated our clients’ portfolios in extraordinarily risky and speculative structured notes, lied to them about the risks associated with them, and engaged in unauthorized trading of their accounts.

Our cases are at least the 31st and 32nd complaints against Roberts. According to his CRD Report, Roberts has 22 recent customer complaints, including seventeen pending complaints that appear to be substantially similar to the facts of this case. In October 2024, an arbitration panel ordered Stifel to pay $14.3 million  – including $9 million of punitive damages – to customers who also invested in structured notes. The following month, a separate panel awarded $2.4 million to other clients of Roberts.

Roberts also had an arbitration award against him in the amount of $202,228 from a case filed in 2010. At least eight other customer claims from earlier in his career were expunged between March and July 2020 and no longer appear on his record.

Roberts was also suspended in 2010 for four weeks and fined $40,000 after his sales assistant changed 51 customer email addresses in the then firm system to the sales assistant’s email address so that the customers would not receive trade confirmations. FINRA found that Roberts had knowledge of the conduct at the time it occurred. FINRA also found that Roberts opened an account for his mother-in-law without telling the firm of their relationship, and she was allocated shares with respect to 45 IPOs even though she should have been prohibited from participating in them.

The following outlines Roberts’s 22 recent customer complaints, which have resulted in a combined $17 million in awarded damages, with pending cases seeking over $42 million in additional compensation —all relating to the same products in this case—structured notes.

• A FINRA arbitration filed on October 21, 2022, alleging “Claimant alleges breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the Florida securities and investor protection act in connection with an outside investment in a hedge fund and with investments purchased at Stifel,” seeking damages in excess of $5,000,000 relating to stocks, a hedge fund, and structured notes.
• A complaint from April 11, 2023, alleging “that [the customer] was misled about the risks and characteristics of certain investments” relating to structured notes.
• A FINRA arbitration filed on May 1, 2023, alleging “breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the Florida securities and investor protection act,” seeking damages in excess of $5,000,000 relating to stocks and structured notes.
• A FINRA arbitration filed on May 8, 2023, alleging “breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the Florida securities and investor protection act, and violation of ERISA” relating to stocks and structured notes. This case resulted in an arbitration award and payment to the customers of $2,581,200.
• A FINRA arbitration filed on May 9, 2023, alleging “breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the Florida Securities and Investor Protection Act” relating to stocks and structured notes. This case resulted in an arbitration award and payment to the customers of $14,266,061.
• A FINRA arbitration filed on May 11, 2023, alleging “breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the Florida securities and investor protection act,” seeking damages in excess of $5,000,000 relating to stocks and structured notes.
• A FINRA arbitration filed on May 24, 2023, alleging “breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the Florida securities and investor protection act,” seeking between $500,000 and $1,000,000 in damages relating to stocks and structured notes.
• A FINRA arbitration filed on May 26, 2023, alleging “breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the California Corporations Code,” seeking between $1,000,000 and $5,000,000 in damages relating to stocks and structured notes.
• A FINRA arbitration filed on June 9, 2023, alleging “breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the Florida securities and investor protection act,” seeking damages in excess of $5,000,000 relating to stocks and structured notes.
• A FINRA arbitration filed on July 20, 2023, alleging “breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the Florida securities and investor protection act,” seeking between $1,000,000 and $5,000,000 in damages relating to stocks and structured notes.
• A FINRA arbitration filed on August 11, 2023, alleging “breach of fiduciary duty, negligence, fraud, and breach of contract,” seeking between $500,000 and $1,000,000 in damages relating to stocks and structured notes.
• A FINRA arbitration filed on October 10, 2023, alleging “breach of fiduciary duty, negligence, fraud, breach of contract, violation of the New Jersey uniform securities law, and violation of the Florida securities and investor protection act,” seeking damages between $1,000,000 and $5,000,000 relating to stocks and structured notes.
• A FINRA arbitration filed on October 16, 2023, alleging “violations of California Corporations Code, violation of Section 10(b) of the Securities Exchange Act, violation of Regulation Best Interest, and breach of fiduciary duty,” seeking over $1,000,000 in damages relating to an alternative investment and structured notes.
• A FINRA arbitration filed on October 19, 2023, alleging “fiduciary duty, negligence, fraud, breach of contract, violation of the New Jersey uniform securities law, and violation of the Florida securities and investor protection act,” seeking damages in excess of $5,000,000 relating to stocks and structured notes.
• A complaint from October 24, 2023, alleging “registered representative never discussed the risk profile of customers’ investments and made them without customers’ authorization,” seeking $150,000 in damages relating to stocks, mutual funds, and structured notes.
• A FINRA arbitration filed on November 13, 2023, alleging “violation of common law fraud, breach of fiduciary duty, and negligence,” seeking between $100,000 and $500,000 in damages relating to structured notes.
• A FINRA arbitration filed on December 13, 2023, alleging “Claimant brings claims for Negligence (Breach of FINRA Rules), Breach of Fiduciary Duty, Violation of Section 10(b) of the Securities Exchange Act and Rule 10b-5, Promulgated Thereunder, Violation of Florida Statute section 517.301, and Punitive Damages relating to alleged unauthorized trading and churning/reverse churning,” seeking damages in excess of $1,000,000 relating to structured notes and stocks. The customer later dismissed the claim.
• A FINRA arbitration filed on December 13, 2023, alleging “Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the Florida Securities and Investor Protection Act,” seeking damages in excess of $5,000,000 relating to structured notes.
• A FINRA arbitration filed on February 28, 2024, alleging “Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, and violation of the Florida Securities and Investor Protection Act,” seeking damages between $100,000 and $500,000 relating to structured notes and stocks.
• A FINRA arbitration filed on October 1, 2024, alleging “Claimants allege breach of fiduciary duty, negligence, fraud, breach of contract, violations of section 10(b) and 20(a) of the Securities Exchange Act and Rule 10b-5, and violations of the Florida Securities and Investor Protection Act,” seeking damages between $1,000,000 and $5,000,000 relating to structured notes.
• A FINRA arbitration filed on November 27, 2024, alleging “Claimant alleges breach of fiduciary duty, negligence, fraud, breach of contract, and Violation of Sections 10(b) and 20(a) of the Securities Exchange Act and Rule 10b-5, and violations of the Florida Securities and Investor Protection Act,” seeking damages between $1,000,000 and $5,000,000 relating to structured notes.
• A FINRA arbitration filed on December 3, 2023, alleging “Claimant alleges breach of fiduciary duty, negligence, fraud, breach of contract, and Violation of Sections 10(b) and 20(a) of the Securities Exchange Act and Rule 10b-5,” seeking damages in excess of $5,000,000 relating to structured notes and stocks.

According to the Financial Industry Regulatory Authority, Chuck Roberts has spent 34 years in the securities industry. He has been registered with Stifel Nicolaus in New York City and Miami Beach since 2016. Before he joined Stifel, where he is part of CR Wealth Management Group, he was registered with firms including Morgan Stanley and Citigroup Global Markets. Investors can access additional information about his background in the securities industry via his FINRA-maintained BrokerCheck report.

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.