According to FINRA public records, former broker Frederick August Mueller Jr. has six disclosed customer disputes. FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates brokers and brokerage firms.
Customers filed the disputes against Mueller between July 2012 and February 2018. Two claims have settled for $30,000 and $330,000. One claim was closed with no action. Three claims are pending with requested damage amounts ranging from $228,665.12 to $755,130.86.
The customer allegations include unauthorized and unsuitable trades, breach of contract, misrepresentation, and failure to supervise.
Brokers must recommend only suitable investment products and strategies to their customers. Suitability is based on factors such as a customer’s age, investment objective, risk tolerance, investment experience, and financial status and needs. Additionally, brokers must obtain a customer’s permission before exercising discretion to place trades in their accounts. Failure to do so is a violation called unauthorized trading.
Moreover, brokerage firms must reasonably supervise their brokers to ensure they do not commit misconduct. Customers may pursue claims against firms to recover losses caused by their brokers’ misconduct.
Mueller was employed with Stifel, Nicolaus & Company, Incorporated from June 2007 until December 2016. He is not currently registered as a broker.
If you have questions about losses suffered losses while investing with Frederick Mueller, contact Marquardt Law Office LLC for a free phone consultation.
Marquardt Law Office LLC is a securities law firm in Chicago, IL that represents investors nationwide who have suffered losses due to misconduct such as fraud and negligence.
Information regarding Frederick August Mueller Jr. was obtained from FINRA BrokerCheck records accessed on July 26, 2018.
