Robert Schrieber is Facing a Suitability Dispute

Robert Schrieber (CRD #: 1811758), a broker registered with Robert W. Baird & Co., is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 5, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations

On January 13, 2024, an investor alleged that Robert Schrieber recommended an unsuitable stock. The investor is seeking $100,000. 

Unsuitable Investments 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Excessive trading, which violates the need for quantitative suitability. This means that the number of trades must suit an investor’s goals. Excessive trading is also known as “churning.” 
• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information 

Robert Schrieber has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 31 Futures Managed Funds Examination 
• Series 7 General Securities Representative Examination
• Series 9 General Securities Sales Supervisor – Options Module Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 8 General Securities Sales Supervisor – (Options Module & General Module) 

He is a registered broker in 32 states and is a registered investment adviser in Florida, Illinois, Texas, and Utah. 

Kurta Law Can Help 

If you have worked with Robert Schrieber 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.