The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Minnesota-based UBS broker/adviser William Snuggerud. William Snuggerud works at the UBS branch office known as The Wipperfurth Group in Wayzata, Minnesota.
William Snuggerud has spent fifteen years in the securities industry and has been registered with UBS Financial Services in Wayzata, Minnesota since 1999. He is a registered broker and investment adviser in fourteen US states, including Arizona, California, Colorado, Illinois, Michigan, Pennsylvania, and Wisconsin.
According to his BrokerCheck report, William Snuggerud is the subject of two customer complaints.
In 2014 a customer alleged William Anthony Snuggerud, while employed at The Wipperfurth Group , accessed the customer’s account page and “altered certain protocols.” The customer sought unspecified damages in the complaint, which was denied.
In 2001 a customer alleged William Snuggerud, while employed at UBS Financial Services, recommended investments that were inconsistent with her investment objectives. The customer sought $110,000 in damages in the complaint, which was denied.
One of William Snuggerud’s colleagues at The Wipperfurth Group in Wayzata, Herman Frederich Wipperfurth, is the subject of six additional customer complaints: an allegation of unsuitability that settled for $1,000,400; an allegation of misrepresentation that settled for $475,000; an allegation of unsuitability that settled for $87,500; and two allegations of unsuitability that were closed with no action.
FINRA rules and federal securities law require brokers like William Snuggerud and Herman Frederich Wipperfurth to recommend only investments that are suitable for their clients. They must consider such factors as age, investment goals, investment needs, net worth, and risk tolerance. They are not permitted to misrepresent or omit material facts connected to the product in a manner that encourage cause clients to invest unsuitably. Brokerage firms like UBS Financial Services have a supervisory duty to ensure that their brokers adhere with these rules. Brokers and firms who recommend unsuitable transactions may be subject to disciplinary action.
If you have lost money investing with William Snuggerud, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only receive payment if and when you recover money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.