Published on:

Richard Schloss Allegedly Placed a Customer in an Unsuitable Investment

By

Richard Schloss

Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on November 30, 2017 indicate that Ohio-based Wells Fargo Clearing Services broker/adviser Richard Schloss has been involved in resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Schloss (CRD# 1541673).

Richard Schloss has spent 31 years in the securities industry and has been registered with Wells Fargo Clearing Service in Canton, Ohio since 1998. He was previously registered with Painewebber in Weehawken, New Jersey (1986-1998). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on November 9, 1995; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on September 2, 1986; Series 3 (National Commodity Futures Examination), which he obtained on March 12, 2002; Series 7 (General Securities Representative Examination), which he obtained on August 16, 1986; and Series 30 (NFA Branch Manager Examination), which he obtained on September 12, 2002. He is a registered broker and investment adviser with 17 US states and territories: California, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Kentucky, Nebraska, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, and Wisconsin. He is also registered with five self-regulatory organizations: FINRA, NYSE American LLC, Nasdaq PHLX LLC, the Nasdaq Stock Market, and the New York Stock Exchange.

According to his BrokerCheck report, he has received one customer complaint, one pending customer complaint, and one denied customer complaint.

In October 2017 a customer’s son alleged Richard Schloss, while employed at Wells Fargo Advisors, placed the customer in an unsuitable investment. The claimant is seeking unspecified damages in the pending complaint.

In October 2016 a customer alleged Richard Schloss, while employed at Wells Fargo Advisors, recommended unsuitable investments. The complaint settled in November 2017 for $88,000.

In 1998 a customer alleged Richard Schloss, while employed at Painewebber, placed him in high risk bonds which resulted in a loss of 60% of the original investment. The customer sought $60,000 in damages in the complaint, which was denied.

If you or someone you know has lost money investing with Richard Schloss, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.