Robert Hoefel Terminated by Wells Fargo
Robert Hoefel (CRD #: 1508512) has been fired by Wells Fargo. This disclosure appears on his BrokerCheck record, accessed on October 9, 2023. Keep reading for more details.
On August 3, 2023, Wells Fargo Clearing Services fired Robert Hoefel following allegations that he did not contact a client before authorizing a trade in their account. He also allegedly did not escalate the subsequent customer complaint.
Unauthorized Trading Allegations
Disputes from August 2023 allege that Gary Costello engaged in unauthorized trading. Unauthorized trading violates FINRA Rule 3260, which limits brokers to exercising their trading discretion in pre-approved discretionary accounts.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Unauthorized trading and failing to escalate a customer complaint both violate this rule.
Robert Hoefel has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 22 Direct Participation Programs Representative Examination
- Series 6 Investment Company Products / Variable Contracts Representative Examination
He has registered with five firms in his 37 years of experience:
- Wells Fargo Clearing Services (CRD #: 19616)
- Wells Fargo Investments (CRD #: 10582)
- Wamu Investments (CRD #: 599)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #: 7691)
- Waddell Reed (CRD #: 866)
Kurta Law Can Help
If you worked with Robert Hoefel and have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.