Robert Sawyer Allegedly Engaged in Negligence

Robert Sawyer (CRD #: 1705283), a broker registered with Stifel Independent Advisors, is facing an investor dispute. This dispute appears on his BrokerCheck record, accessed on September 22, 2023. For more information, keep reading. 

On July 18, 2023, investors alleged that Robert Sawyer breached his contract. They further alleged negligence, breach of fiduciary duty, fraud, aiding and abetting, conversion, and negligence, in addition to a loss of investment opportunity. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Negligence, aiding and abetting, breach of fiduciary duty, conversion, and fraud all violate this rule. 

What is Broker Negligence? 

Many types of broker misconduct may qualify as negligence. Typical examples include unsuitable investment recommendations, misrepresentations or omissions of material fact, and failure to follow instructions.

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.) 

Background Information 

Robert Sawyer 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 

He is a registered broker in seven states and is a registered investment adviser in California, Mississippi, and Texas. 

Robert Sawyer has registered with the following firms: 

• Stifel Independent Advisors (CRD #: 28218) 
• Stifel, Nicolaus & Company, Incorporated (CRD #: 793) 
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 
• Painewebber Incorporated (CRD #: 8174) 
• J.C. Bradford (CRD #: 1287) 
• Howard, Weil, Labouisse, Friedrichs (CRD #: 414) 

Kurta Law Can Help

If you worked with Robert Sawyer and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.