Robert Allan Caldwell (CRD #1995182) Has Customer Dispute Disclosures on FINRA BrokerCheck
Robert Allan Caldwell (CRD #1995182) is a former broker with disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on January 27, 2026. It reflects two customer disputes and one termination disclosure. If you invested with Robert Caldwell and have concerns, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Investor Disputes / Customer Complaints
Robert Caldwell’s FINRA BrokerCheck Report reflects two customer dispute disclosures. Summaries of the disputes are below:
On December 5, 2016, a client alleged she was not told a monthly payout could drop over time. The payout began in July 2013 and came from an annuity rider. Robert Caldwell’s FINRA BrokerCheck lists the product type as a variable annuity and shows a $59,726 settlement.
On October 30, 1998, a customer alleged he believed premium payments on an IDS Life policy would be lower than they were. Robert Caldwell’s FINRA BrokerCheck lists the dispute as settled for $60,000. In a broker statement, the firm said an illustration had a typographical error and it refunded the premiums and canceled the policy.
Robert Caldwell’s FINRA BrokerCheck report lists one more disclosure. It involves a termination.
Rule Summary #1: FINRA Rule 2330 (Deferred Variable Annuities)
FINRA Rule 2330 sets sales-practice standards for recommendations involving deferred variable annuities. It covers disclosure and suitability considerations for purchases and exchanges.
Rule Summary #2: FINRA Rule 2111 (Suitability)
FINRA Rule 2111 requires a reasonable basis for each recommendation. It also requires a customer-specific suitability review. These disputes often focus on suitability. They ask if the recommendation fit the investor’s goals and liquidity needs.
Why This Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.
Reg BI is built around four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
- Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
- Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
- Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.
Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.
Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on His FINRA BrokerCheck report, Robert Caldwell:
Is not currently registered.
Has passed the Securities Industry Essentials (SIE) exam. He has also passed Series 7 and Series 6, along with Series 63.
Was previously registered with firms that include Ameriprise Financial Services, LLC, IDS Life Insurance Company, and American Express Service Corporation.
Has reported a Certified Financial Planner (CFP) professional designation.
Kurta Law Can Help
If you have worked with Robert Caldwell and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. You can read more about potential claims and investor protections in the Helpful Resources below. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.
Helpful resources: Variable Annuities | Unsuitable Investments
For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.