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Robert McLane Facing an Investor Dispute

Robert McLane (CRD #: 4007812), a broker registered with Wells Fargo Clearing Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on March 1, 2024. Details concerning this dispute are provided below. 

Investor Allegations 

On November 17, 2023, investors alleged that Robert McLane recommended collateralizing their investment account with a loan, which the investors alleged was not in their best interest and allegedly restricted their account’s growth. The dispute was denied, but investors should know that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration. 

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firm representatives must use reasonable care and skill when they recommend investment strategies. 

Background Information 

Robert McLane has passed the following exams: 

  • Series 66 Uniform Combined State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 31 Futures Managed Funds 
  • Series 7 General Securities Representative Examination

He is a registered broker in 13 states and is a registered investment adviser in Illinois. 

During his 24 years of experience, Robert McLane has registered with two firms: 

  • Wells Fargo Clearing Services (CRD #: 19616) 
  • Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 

Kurta Law Can Help 

If you have worked with Robert McLane and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.

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