Bob Berry (CRD#: 1262947), a broker with LPL Financial LLC (CRD#: 6413) and a Registered Investment Adviser (RIA) with Level Four Advisory Services (CRD#: 134086), both in Lexington, South Carolina, is currently involved in an investor dispute, according to his BrokerCheck record accessed on June 23, 2020. What happened to lead to this dispute? Read on to learn more.
On May 17, 2020, a client alleged that Bob Berry failed to follow their instructions regarding disbursement. The client is seeking $112,000 in damages; the dispute is pending.
This is not the only disclosure on Bob Berry’s BrokerCheck record. He was permitted to resign from Wells Fargo. What happened? The manager of the branch office found several binders of customer information in the trunk of Bob Perry’s car. This is problematic because it violates confidentiality rules. Furthermore, some brokers who are seeking to make a career transition will try to bring their “book of business” with them. But according to the Protocol for Broker Recruiting, brokers can only retain the client’s name, address, phone number, email address, and the account title. Clearly, Bob Berry had much more information in his possession. It is unclear whether or not Bob Berry was considering moving firms, but regardless, the way he stored this information was unprofessional and opened clients up to potential breaches of confidentiality. There was also no way that his firm could have supervised his activities if he was carrying around these binders without their knowledge.
Bob Berry has passed the Series 65 – Uniform Investment Adviser Law Examination, the Series 63 – Uniform Securities Agent State Law Examination, the SIE – Securities Industry Essentials Examination, the Series 31 – Futures Managed Funds Examination, and the Series 7 – General Securities Representative Examination. He is registered to sell securities in Colorado, Florida, Georgia, New Jersey, North Carolina, South Carolina, Tennessee, Texas, and Utah. He is also a Registered Investment Adviser (RIA) in South Carolina.
Over his 36-year career in the securities industry, Bob Berry has worked for six brokerage firms. In addition to his current role as a broker with LPL Financial LLC (CRD#: 6413) and a Registered Investment Adviser (RIA) with Level Four Advisory Services (CRD#: 134086), he has also worked for:
- Wells Fargo Advisors LLC (CRD#: 19616) — broker-dealer and investment adviser
- First Union Capital Markets Corp. (CRD#: 6124)
- Prudential Securities Incorporated (CRD#: 7471)
- Dean Witter Reynolds Inc. (CRD#: 7556)
If Bob Berry was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta to learn about your options for investment loss recovery. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.