Brian Wurdemann Barred By FINRA Following Arbitration Actions

Brian Wurdemann (Brian M. Wurdemann CRD# 4206425) is a former registered broker and investment advisor whose last known employer was RBC Capital Markets, LLC (CRD# 31194) of New York, NY. His previous employers include UBS Financial Services Inc. (CRD# 8174) of Paramus, NJ, Morgan Stanley Smith Barney (CRD# 149777) and Citigroup Global Markets Inc. (CRD# 7059), also of New York City. He has been in the industry since 2000.

In a FINRA arbitration action with RBC Capital Markets, the firm alleged that Wurdemann failed to repay a promissory note he entered into with the firm. The action requires Wurdemann to repay RBC in accordance with the note, which includes:

$1,488,650.12, plus interest at an annual rate of 0.58% per annum ($23.65 per diem)
Collection costs and expenses including reasonable attorneys’ fees
“Any further relief as deemed fair and just”

Wurdemann is barred indefinitely, until payments are made in accordance with the promissory note, effective 3/27/2023.

Previously, Wurdemann failed to respond to a request for information from FINRA for an investigation. He failed to request a termination of the suspension within a three-month period following the date of suspension on 11/16/2022, leading to a permanent bar, effective 2/21/2023.

A customer dispute filed on 10/20/2020 alleged that Wurdemann failed to disclose the risks of a structured note he purchased on 11/15/2017. The customer requested damages of $51,552.17, and the dispute was settled for $14,000.

Two months prior, on 8/26/2020, another customer filed a dispute alleging that Wurdemann mispresented the nature of three mutual fund investments. The customer requested damages of $1,000,000, and the dispute was settled for $385,000.

During his time with UBS Financial Services, a customer filed a FINRA arbitration hearing on 10/31/2018, with the allegations of, “inter alia, misrepresentation with respect to investments – June 2009 to July 2011”, with requested damages of $44,179.49. The arbitration panel found for the claimants and ordered UBS and Wurdemann to jointly pay the claimants compensatory damages of $170,000. Additionally, Wurdemann was required to pay other fees related to the arbitration hearing that totaled $3,262.50.

Did You Invest With Brian Wurdemann?

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