Investor Claims Robert Palatella Failed to Follow Instructions
Robert Palatella (CRD #: 1492207), a broker registered with Wells Fargo Clearing Services, allegedly failed to redeem a client’s shares, according to his BrokerCheck record, accessed on May 23, 2022. Keep reading to learn more about Robert Palatella’s conduct as a broker.
Alleged Failure to Execute
On February 24, 2022, an investor alleged that Robert Palatella failed to execute an order to redeem shares in a timely manner, resulting in losses due to the shares’ limited redemption window. The client alleged Robert Palatella failed to execute this order between December 7, 2021, and February 24, 2022. This dispute is currently pending.
FINRA Rule 5310
FINRA Rule 5310 requires brokers to promptly execute clients’ instructions, as well as to conduct due diligence when searching for the best market for a trade.
Robert Palatella 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
Robert Palatella is a registered broker in 24 states and a registered investment adviser in California and Texas.
He has also worked for the following firms:
- Morgan Stanley (CRD#:149777)
- Morgan Stanley & Company (CRD#:8209)
- Morgan Stanley DW (CRD#:7556)
- Wachovia Securities (CRD#:19616)
- Prudential Securities (CRD#:7471)
- Painewebber Incorporated (CRD#:8174)
Kurta Law Can Help
If you worked with Robert Palatella and you 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 and 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.