Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on February 21, 2019 indicate that Nevada and California-based Wells Fargo Clearing Services broker/adviser Richard Bernstein has received resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Bernstein (CRD# 1113777).
Richard Bernstein has spent 35 years in the securities industry and has been registered with Wells Fargo Clearing Services in Incline Village, Nevada and Los Angeles, California since 2015. Previous registrations include Morgan Stanley in Beverly Hills, California (2009-2015); Morgan Stanley & Company in Beverly Hills, California (2009); UBS Financial Services in Beverly Hills, California (2003-2009); Salomon Smith Barney in New York, New York (1992-2003); Prudential Securities in New York, New York (1988-1992); Bear Stearns & Company (1985-1988); and Merrill Lynch (1983-1985). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on October 11, 1995; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 29, 1983; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; and Series 7 (General Securities Representative Examination), which he obtained on April 16, 1983. He is a registered broker and investment adviser with 17 US states and territories: Alabama, Arizona, California, Florida, Hawaii, Idaho, Illinois, Nevada, New Mexico, New York, North Carolina, Oregon, South Carolina, Texas, Utah, Washington, and Wisconsin. He is registered with five self-regulatory organizations (SROs): 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 four customer complaints and two pending customer complaints.
In January 2019 a customer alleged Richard Bernstein, while employed at Morgan Stanley Smith Barney, recommended unsuitable investments between 2015 and 2016. The customer is seeking $175,500 in damages in the pending complaint.
In 2017 a customer alleged Richard Bernstein, while employed at UBS Financial Services, made unauthorized trades and recommended unsuitable investments. The customer is seeking more than $81,700 in damages in the pending complaint.
In 2008 a customer alleged Richard Bernstein, while employed at UBS Financial Services, did not follow the customer’s instructions. The complaint settled for more than $5,700.
In 1995 a customer alleged he, while employed at Smith Barney Shearson, breached his fiduciary duty, effected unauthorized transactions, recommended unsuitable investments, and made misrepresentations of material facts. The complaint resulted in an award to the customer of $91,200.
In 1992 a customer alleged he, while employed at Prudential Securities, conducted excessive trading and executed transactions without authorization. The complaint resulted in an award to the customer of $31,300.
If you have lost money investing with Richard Bernstein, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. 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.