Gabriel Swan (CRD: 5821532) faces a pending customer claim that alleges $180,000 in damages, according to BrokerCheck. In it, the customer alleges Swan failed to stop him from withdrawing funds, and Swan denies any wrongdoing.
Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Patrick M. Dever [CRD: 2202204, West Chester, Pennsylvania]. Dever is currently registered with Stifel Nicolaus Company Incorporated, where he has worked since October 30, 2014, as a financial advisor and securities broker. Prior to this, Dever was employed by Morgan Stanley from 2009 to 2014 and Citigroup Global Markets Inc. from 1993 to 2006. The following disclosures include allegations of unsuitable investment recommendations and other concerns related to Dever’s professional conduct with clients. Below are the details of the allegations and their outcomes.
On September 6, 2024, a client of Stifel Nicolaus Company Incorporated filed a written complaint alleging that Patrick Dever made unsuitable investment recommendations involving stocks and charged excessive fees on unit investment trusts. The client asked for $1,000,000 in damages. This matter remains unresolved and is currently pending.
On May 25, 2018, a client of Stifel Nicolaus Company alleged that Patrick Dever made inappropriate stock purchases. This concerned the client's accounts through 2015. The client sought $100,000 in damages. On August 14, 2018, the firm settled the matter by paying the client $21,041.91, with Dever personally contributing $2,000 toward the settlement.
On September 29, 2010, a client of Morgan Stanley filed a complaint. Namely, the client alleged that Patrick Dever made unsuitable investment recommendations involving mutual funds, stocks, and unit investment trusts. The client sought $375,000 in damages. On August 17, 2011, Morgan Stanley settled the matter by compensating the client with $65,000.
These disclosures raise questions about the suitability of Patrick Dever’s investment recommendations and the potential impact on his clients. Allegations of unsuitable investments and excessive fees suggest a need for investors to carefully evaluate the advice and services by their financial advisor / securities broker. If you have worked with Dever and have concerns about your investments, it may be helpful to seek further information and consider your legal options.
Feel free to reach out to Soreide Law Group online or call (888) 760-6552 to speak with an experienced investment loss attorney. Dever and the firms he worked for deny accusations of sales practice violations, but these allegations are significant and may warrant closer examination. Soreide Law Group securities lawyers are ready to help you better understand your options. Get in touch with us to learn more.
Gabriel Swan (CRD: 5821532) faces a pending customer claim that alleges $180,000 in damages, according to BrokerCheck. In it, the customer alleges Swan failed to stop him from withdrawing funds, and Swan denies any wrongdoing.
A pending customer claim on the BrokerCheck report of John Ravsten (CRD: 5634077) alleges $118,000 in damages. The claimant alleges misrepresentation and says the investment did not suit the claimant's situation.
A pending $2,500,000 customer claim over DST investments appears on the BrokerCheck report of Wendy Kretschmer (CRD: 3111589). The claimants allege that WestPark recommended the investments, and the claim remains open.
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