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Articles Tagged with Stifel Nicolaus Company

Broker Robert Cleary (CRD #1505792) is a currently registered broker with Stifel, Nicolaus & Company, Incorporated (CRD #793) of New York, NY, since 2007. He was previously employed with Ryan Beck & Co. (CRD #3248), Gruntal & Co., L.L.C. (CRD#:372) Lehman Brothers Inc. (CRD #7506), all of New York, NY. He has been in the industry since 1986.

Cleary currently has a pending customer dispute in which the client alleges “alleges breach of fiduciary duty, negligence, and breach of contract,” with damages requested of $300,000. Filed oBoca-Raton-Financial-Advisor-Robert-Child-Faces-Yet-Another-Customer-Dispute-300x199n 5/17/18, no additional information is available.

One previous dispute in 2016 alleged “losses due to inappropriate investment recommendations. 3/31/15 through 5/6/15.” Damages were requested in the amount of $70,000. The client was awarded $40,000, and the case was settled.

Former broker and investment advisor Mitchell Toby Yanow (CRD #2148171) was last employed by Stifel, Nicolaus & Company, Incorporated (CRD #793) of Boca Raton, FL. His previous employers include Oppenheimer & Co. Inc. (CRD #249) and Wachovia Securities, LLC (CRD #19616), both of Palm Beach Gardens, FL. No current employment information is available. Yanow has been in the industry since 1991.

Even the Rich and Famous Can be Victims of Elder Financial Fraud on silverlaw.com
FINRA recently barred Yanow after a disciplinary action after an investigation found that he converted at least $205,586 of an elderly customer’s funds for his own personal use. The 87-year-old customer gave Yanow a series of blank, signed checks to use for paying his caregiver in the event that the client was unable to do it himself. However, Yanow instead used the checks, from the customer’s brokerage account at his own firm, to withdraw funds and pay for personal expenses such as fees for his children’s summer camp, overdue homeowner association fees and for the purchase of a 1976 Corvette.

Without admitting or denying the findings, Yanow signed a Letter of Acceptance, Consent & Waiver on 7/9/2018. Yanow has been barred indefinitely, in all capacities as of 7/11/2018, from any FINRA-registered firm.

John Greg Schmidt (CRD #708094) is a former registered stockbroker and investment advisor whose last known employer was Wells Fargo Advisors Financial Network, LLC (CRD #11025) in Dayton, OH. He is also known as “Greg Schmidt” or “John Gregory Schmidt.”

His previous employers include Stifel, Nicolaus & Company, Incorporated (CRD #793), also of Dayton, OH; First Union Securities, Inc. (CRD #19616) of St. Louis, MO; and First Union Capital Markets Corp. (CRD #6124) of Charlotte, NC. Schmidt began his industry career in 1980, but is not currently registered with any FINRA broker.

Schmidt is currently the subject of several disclosures:

Former broker John M. James (CRD #4609872) has been barred after failing to provide on-the-record testimony involving allegations from a previous employer. His refusal put him in violation of FINRA Rules 8210 and 2010.

James was last employed with Stifel, Nicolaus & Company, Incorporated (CRD#:793) Of Golden Valley, MN. James was previously employed with:

  • Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Wayzata, MN, from 06/16/2006 to 03/24/2016

New-York-Broker-Gregory-Flemming-Suspended-by-FINRA-300x200Silver Law Group is currently investigating Dayton, Ohio based broker John Greg Schmidt regarding complaints pertaining to theft of client funds and elder financial abuse.

Based on FINRA’s BrokerCheck report on Schmidt, a complaint was filed on October 9, 2007 alleging that Schmidt caused an investor client upwards of $500,000 worth of damages due to failing to provide due diligence and theft during his employment at Stifel Nicolaus & Company, Inc. and Wells Fargo Advisors Financial Network LLC. The claim was settled for damages of $80,000 in which Schmidt was required to pay $32,500, Wells Fargo was required to pay $32,500, and Stifel, Nicolaus & Company, Inc. was required to pay $15,000. Additionally, a second claim was filed on 12/04/2017 that is still pending regarding an allegation of theft of client funds. As a result of the second claim, Schmidt was given a permanent suspension from the securities industry.

Schmidt was previously employed at Stifel, Nicolaus & Company, Inc. from 2002 to 2006 and Wachovia Securities Financial Network LLC. from 2006 to 2009 until they merged with Wells Fargo. He was employed at Wells Fargo Advisors Financial Network LLC from 2009 to 2017.  According to BrokerCheck, several recently filed arbitration claims allege Schmidt misappropriated or absconded with customer money.

New-York-Broker-Gregory-Flemming-Suspended-by-FINRA-300x200Silver Law Group is currently investigating Cleveland, Ohio based broker Joseph Daniel Krueger II regarding complaints pertaining to engaging in outside securities transactions by issuing and selling away promissory notes in the amount of $200,000 with his prior brokerage firm’s clients without notifying his prior brokerage firm.

Based on FINRA’s BrokerCheck report on Joseph Krueger II, a FINRA regulatory action was filed on December 4, 2017 alleging that Krueger II provided misleading information to investor clients from Stifel, Nicolaus, & Company during his employment at Stifel, Nicolaus, & Company, Inc. regarding a startup App company while simultaneously engaging in the selling of outside securities, which were used to finance startup costs associated with the App company. The total in damages fined was $10,000, which also included a suspension of 3 months.

Krueger II was previously employed at Stifel, Nicolaus & Co., Inc. from 2001 to 2015. He has been employed at Robert W. Baird & Co. from 2015 to the present.

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