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Stephen Wolferman Has Received Three Customer Complaints

Stephen Wolferman

Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on March 2, 2018 indicate that New Jersey-based Merrill Lynch broker/adviser Stephen Wolferman is involved in resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Wolferman (CRD# 471370).

Stephen Wolferman has spent 46 years in the securities industry and has been registered with Merrill Lynch in Montvale, New Jersey since 1984. Previous registrations include Drexel Burnham Lambert (1981-1984); LF Rothschild Unterburg Towbin (1979-1981); Bear Stearns & Company (1974-1979); and EF Hutton & Company (1971-1974). He has passed four securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 20, 1982; PC (AMEX Put and Call Exam), which he obtained on February 10, 1995; Series 31 (Futures Managed Funds Examination), which he obtained on September 18, 1993; and Series 1 (Registered Representative Examination), which he obtained on August 30, 1971. He is a registered broker and investment adviser with 28 US states and territories.

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

In October 2017 a customer alleged Stephen Wolferman, while employed at Merrill Lynch, recommended unsuitable investments from 2010 until 2016. The customer is seeking $500,000 in damages in the pending complaint.

In 2009 a customer alleged Stephen Wolferman, while employed at Merrill Lynch, recommended an investment in auction rate securities prior to a widespread illiquidity in the market for auction rate securities. The complaint settled with the firms repurchase of the securities at par value, for $75,000.

In 2013 a customer alleged Stephen Wolferman, while employed at Merrill Lynch, recommended unsuitable investments from 2007 to 2012. The customer sought unspecified damages in the complaint, which was denied.

In 2008 a customer alleged he, while employed at Merrill Lynch, misrepresented material facts related to the liquidity of auction rate securities. The complaint settled with the firms repurchase of the securities at par value, for $25,000.

In 2008 a customer alleged he, while employed at Merrill Lynch, misrepresented the safety and liquidity of unsuitable auction rate securities. The complaint settled with the firms repurchase of the securities at par value, for $175,000

In 2002 a customer alleged he, while employed at Merrill Lynch, over-concentrated investments and mismanaged the account. The customer sought $150,000 in damages in the complaint, which was denied.

If you or someone you know has lost money investing with Stephen Wolferman, 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.

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