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Robert Rumley Allegedly Failed to Manage Accounts in Client’s Best Interest

Robert Rumley (CRD #: 4474706), a broker registered with William Blair, is involved in a pending dispute, according to his BrokerCheck record, accessed on May 12, 2023. Investors may have also engaged his services through William Blair & Company. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On April 6, 2023, an investor alleged that Robert Rumley did not manage her accounts in her best interest from 2013-2021. This dispute is currently pending.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which describes their age, tax status, and other characteristics.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Tax Lien

On May 14, 2019, Robert Rumley was subject to a $26,781.44 tax lien.

Background Information

Robert Rumley has passed the following exams:

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

Robert Rumley is a registered broker in 25 states and the District of Columbia. He is also a registered investment adviser in Georgia.

He has also worked for the following firms:

  • Morgan Stanley (CRD#:149777)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
  • UBS Financial Services (CRD#:8174)

Kurta Law Can Help

If you worked with Robert Rumley and you have concerns about your investments, please contact us today at 877-600-0098 or 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.