Soreide Law Group is currently investigating potential claims on behalf of individuals who have suffered losses invested with registered broker and investment adviser, Brian M. Wurdemann (CRD#: 4206425, New York, NY). Notably, Wurdemann worked with RBC Capital Markets LLC in New York, NY from May 4, 2017, to May 5, 2022, and with UBS Financial Services Inc. in Paramus, NJ from January 27, 2011, to May 15, 2017. In his career, investors made allegations of his sales practice violations. Also, Wurdemann was sanctioned by FINRA and ultimately barred from association with any of its members in all capacities.
Specifically, on September 26, 2023, a client of RBC Capital Markets LLC filed FINRA Arbitration: 23-002295 about Brian Wurdemann. Notably, the client alleged that Wurdemann executed trades without prior discussion or discretionary authority, did not invest in suitable investments, and failed to disclose risks and suitability for each trade. Because of this, the client allegedly sustained damages on mortgage-backed securities. Therefore, the client requested over $1,800,000 in compensation from RBC Capital Markets LLC or Wurdemann. Evidently, this arbitration is pending a resolution.
Additionally, a client of RBC Capital Markets LLC contested Brian Wurdemann's sales practices, according to a complaint dated February 27, 2023. Supposedly, Wurdemann took a loan from the client in January 2022 without repaying as promised. It appears that Wurdemann allegedly caused the client to claim damages amounting to $355,000. Therefore, the client sought compensatory relief from RBC Capital Markets LLC or Wurdemann. However, the client withdrew this complaint.
Also, on February 21, 2023, FINRA issued a sanction in Case Number #: 2022075005001 against Brian Wurdemann for non-compliance. Specifically, FINRA alleged that Wurdemann failed to respond to requests for information. Following this, because Wurdemann did not request the termination of his suspension within three months from the Notice of Suspension, he was automatically barred from association with any FINRA member in all capacities.
Also, an RBC Capital Markets LLC client alleged that Wurdemann did not fully inform them of the potential risks associated with purchasing a structured note. This structured note was acquired on November 15, 2017. Because of this, the client allegedly sustained damages. Therefore, on December 16, 2020, RBC Capital Markets LLC settled this matter by paying the client $14,000 in damages.
Particularly, a client of UBS Financial Services Inc. contested Brian Wurdemann’s sales practices, according to a complaint. Supposedly, Wurdemann misrepresented the nature of three mutual fund investments between 2012 and 2018. It appears that Wurdemann caused the client to sustain damages on these mutual fund products. Therefore, UBS Financial Services Inc. opted to settle the matter on January 7, 2022, by compensating the client in the amount of $385,000.
Additionally, a UBS Financial Services Inc. client filed FINRA Arbitration: 18-03754 about Brian Wurdemann. Evidently, the client alleged that Wurdemann engaged in improper actions including breach of contract, inadequate supervision, breach of fiduciary duty, negligence, and misrepresentation relating to municipal debt products. Therefore, on February 19, 2020, a FINRA Arbitration Panel issued an Award ordering Wurdemann to pay jointly and severally with UBS Financial Services Inc. the sum of $175,000 in compensatory damages.
Did you experience losses because of Brian Wurdemann? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Wurdemann and the brokerage firms he worked for deny accusations of sales practice violations.
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