Advisor Alert: Our Attorneys Are Investigating Stephen Herman Wedel For Investment Fraud
Did You Lose Money Because of Steve Wedel?
Filed: November 6, 2023
Steve Wedel has been the subject of two (2) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Stephen Herman Wedel.
Who Is Stephen Herman Wedel of RFG Advisory, LLC and Private Client Services, LLC?
- Advisor Name: Stephen Herman Wedel
- Aliases: Steve Wedel
- CRD: 1221992
- Location: Naples, Florida and Creve Coeur, Missouri
- Current Employer: RFG Advisory, LLC and Private Client Services, LLC
- Previous Firms: LPL Financial LLC and Veravest Investment Advisors, Inc.
- Number of Known Customer Complaints: 2
- Can Stephen Wedel Be Sued: Yes, in Private Arbitration
- Can Stephen Wedel’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $300,000.
- Highest Settlement: $145,000
If you have suffered investment losses by Stephen Wedel, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Steve Wedel For Broker Misconduct
As of this publication date, Stephen Wedel has been the subject of 2 customer disputes. Let’s review them below.
In May 2022, a FINRA arbitration was filed against or in reference to Stephen Wedel by multiple customers of LPL Financial LLC alleging that between May 2014 and June 2018, Stephen Wedel concentrated investments in customers’ accounts in a publicly traded BDC that was inappropriate for the customers’ investment objectives. Per the customers, they lost over $95,000 because of Mr. Wedel’s actions. On June 24, 2022, Mr. Wedel settled the claim for $8,000, and some or all of this amount may have been paid by Mr. Wedel’s employer and/or insurance carrier.
In August 2020, a FINRA arbitration was filed against or in reference to Stephen Wedel by a customer of LPL Financial LLC alleging that recommended investments overexposed the client to risk. Per the customer, he lost over $300,000. because of Mr. Wedel’s actions. On December 28, 2022, Mr. Wedel settled the claim for $145,000, and some or all of this amount may have been paid by Mr. Wedel’s employer and/or insurance carrier.
How To File A Claim Against Steve Wedel of RFG Advisory, LLC and Private Client Services, LLC (previously with LPL Financial LLC and Veravest Investment Advisors, Inc.) To Get Your Money Back.
If you have questions about Stephen Wedel, RFG Advisory, LLC, Private Client Services, LLC, LPL Financial LLC, Veravest Investment Advisors, Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.