Former Goldman Sachs Broker Accused of Unsuitability, Negligence, and Misrepresentation
Robert Brian Wolfe, a previously registered broker, is the subject of several pending and settled customer disputes dating back to August 2020. The disputes involve a number of allegations, including unsuitable investment recommendations, failure to perform due diligence, and failure to disclose material information. Wolfe was terminated from his employment with Goldman Sachs in 2021 but remains registered with a different firm as an investment adviser.
The investor claim law firm, Meyer Wilson, is investigating claims against broker Robert Wolfe for potential negligence and wrongdoing. Our nationally-recognized legal team has recovered millions of dollars on behalf of our clients. If you have sustained losses after investing with Robert Wolfe or another stocker accused of misconduct, contact our office at (614) 532-4576 for a free consultation.
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Alleged Violations and Misconduct
According to Robert Wolfe’s BrokerCheck report, he has ten public disclosures, including nine customer disputes. The first customer dispute was filed in August 2020 and settled for $140,000. According to the claim, the customer alleged that Mr. Wolfe made unsuitable investment recommendations and failed to adequately disclose the risks associated with these investments.
A second customer dispute was filed the same month alleging similar wrongdoing. The claim was ultimately settled for $170,000. Several disputes filed in 2021 are still pending. Again, customers claim that Wolfe made unsuitable recommendations and failed to adequately disclose the risks involved with each investment resulting in losses to the client.
Two disputes filed this year are pending with combined requested damages exceeding $500,000. The customers allege that Wolfe recommended unsuitable “high-commission, high-risk, and speculative products” and made material misrepresentations. The claims also allege that the brokerage firm failed to properly supervise its representative.
Employment Separation After Allegations
Throughout his 21 years of experience, Wolfe was employed by eight different firms. Most recently, he was listed as a registered representative with Goldman Sachs & Co, LLC. In 2021, after less than 18 months with the firm, Wolfe was terminated from his employment.
The reason for the discharge involves “client communications related to portfolio performance and market valuations.” The company also reports that the termination resulted from his “handling and resolution of customer grievances” without the approval of the firm.
Wolfe is not currently registered as a broker but remains a registered investment adviser. According to public information, he is employed with Apollon Wealth Management, LLC in South Carolina.
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Did You Suffer Losses After Investing with Robert Wolfe?
If you or a loved one suffered losses after investing with Robert Wolfe, contact our office at (614) 532-4576 for a free consultation. All investor claims are evaluated at no cost and without obligation to retain our firm.
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