Refused to provide documents and information requested by FINRA
Did you lose money investing with Robert Montes? Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.
Former Wells Fargo Advisor Robert Montes (CRD# 835488) has been barred from FINRA for failing to cooperate with an inquiry concerning the possible misuse of customer funds.
According to his FINRA BrokerCheck profile, Montes has 42 years of experience with nine firms, most recently with Morgan Stanley of Palm Harbor, FL (2014–2019); Wells Fargo Advisors of Clearwater, FL (2003–2014); and Prudential Securities of New York, NY (2000–2003).
Other employers included Salomon Smith Barney; Lehman Brothers; Merrill Lynch, Pierce, Fenner & Smith; and Oppenheimer & Co., all of New York, NY.
Montes has four disclosures in his FINRA record.
In July 2019, Montes consented to sanction and to the entry of findings that he refused to provide documents and information requested by FINRA in connection with an investigation into whether he potentially misused an elderly customer’s assets
In 2010, while Montes was with Wells Fargo of Clearwater, FL, a client alleged that Montes made unsuitable recommendations and did not give “reasonable consideration” to his investment objectives or risk tolerance. The client alleged damages of $855,000. The claim was settled in 2012 for $57,500.
In 1998, while with Smith Barney of New York, a client alleged that Montes gave him erroneous investment advice and sought restitution in amount $11,000. The claim was denied.
A client brought a lawsuit against Montes in 1985 in the U.S. District Court of Southern Florida for an alleged over $19,000 in investment losses. The suit was settled for $12,700.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive misappropriated funds, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.