Duane Pellman Facing Excel Wealth Management Client Disputes About Unsuitable Advice

One or more investors possibly experienced losses because of securities broker Duane Scott Pellman [CRD: 2426979, New Bern, North Carolina], according to public information found on FINRA BrokerCheck. Evidently, Pellman worked for Excel Wealth Management LLC from February 2019 to March 2023, and later joined Tactive Advisors LLC in March 2024, while also operating his own insurance business beginning in April 2023. Keep reading to find out more about Pellman’s disclosures and investor disputes tied to his time at Excel Wealth Management.

Excel Wealth Management Investor Accused Pellman Of Breach Of Fiduciary Duty

Also, an Excel Wealth Management client filed FINRA Arbitration No. 23-03196 about Duane Pellman. Evidently, the client claimed that Pellman made unsuitable recommendations and breached his fiduciary duty. Because of this, the investor allegedly sustained damages connected to stocks and leveraged exchange-traded funds. For this reason, on June 12, 2024, Excel Wealth Management settled this matter by paying the client $478,260.00 in damages.

Duane Pellman Disclosed Unsuitable Recommendations Allegations By Excel Wealth Management Client

Also, a client of Excel Wealth Management contested Duane Pellman’s conduct by bringing FINRA Arbitration No. 23-03192. Allegedly, Pellman breached his fiduciary duty and gave unsuitable advice relating to stocks and leveraged exchange-traded funds. As a result, Excel Wealth Management opted to settle the matter on June 10, 2024, by compensating the client in the amount of $46,525.00.

Excel Wealth Management LLC Investor Accused Pellman Of Sales Practice Violation

Particularly, an Excel Wealth Management LLC client filed FINRA Arbitration No. 23-02805 about Duane Pellman. Allegedly, Pellman breached his fiduciary duty relating to stocks and leveraged exchange-traded funds. Consequently, on June 12, 2024, Excel Wealth Management LLC settled this matter by paying the client $92,925 in damages.

Duane Pellman Disclosed Unsuitable Advice Allegations By Excel Wealth Management LLC Client

Specifically, a client of Excel Wealth Management LLC disputed Duane Pellman’s sales practices by filing FINRA Arbitration No. 23-00450. Allegedly, Pellman recommended risky stocks and leveraged exchange-traded funds. For this reason, Excel Wealth Management LLC opted to settle the dispute on January 29, 2024, by paying compensation totaling $450,000.

Seeking More Information About Securities Broker Pellman?

Do you have concerns or questions regarding investments you made with Duane Pellman? You can get in touch with Soreide Law Group at (888) 760-6552 or online and consult with a securities lawyer concerning a potential recovery of your investment losses. For over a decade, Soreide Law Group has recovered losses for investors throughout the United States. Also, the firm takes cases on a contingency fee arrangement and advances all costs. Pellman and brokerage firms Pellman worked for deny allegations made against them.