Robert Earl Turner, Formerly of Stifel, Nicolaus & Company, Named in Multiple Customer Disputes Alleging Misappropriation and Fraud

INVESTORS: Former Stifel, Nicolaus & Company broker Robert Earl Turner was named in multiple customer disputes alleging misappropriation of funds and fraud.

Robert Earl Turner (CRD#: 2113736) was registered as a broker with Stifel, Nicolaus & Company from 2021 until 2022. Previously, Turner was registered as a broker with UBS Financial Services from 1996 until 2021.

Turner has five disclosures on his BrokerCheck report. 

April 2022 Customer Dispute

Status: Pending

Allegations: Time Frame: August 01, 2002 – April 08, 2022 The client alleges they were defrauded by the Financial Advisor when presented with a bogus scheme to invest.

Damage Amount Requested: $725,000.00

February 2022 Customer Dispute

Status: Pending

Allegations: Time Frame: January 02, 2002 – February 17, 2022 Client alleges that money was funneled from his account by the FA to his college friend and makes further allegations of selling away.

February 2022 Customer Dispute

Status: Settled

Allegations: Time Frame: January 23rd, 2020 to January 19th, 2021 What were the allegations against the individual? The client alleges the financial advisor stole money from her account.

Damage Amount Requested: $21,915.00

Settlement Amount: $468,686.05

April 2021 Employment Separation After Allegations

Firm Name: Stifel, Nicolaus & Company, Incorporated

Termination Type: Voluntary Resignation

Allegations: Concerns related to FAs acknowledgement of involvement with investments not offered at his prior firm while employed at the prior firm.

October 2020 Customer Dispute

Status: Settled

Allegations: Time Frame: February 28 2006 to October 27, 2020 Client verbally alleges the variable annuity was represented as offering a 7% withdrawal rate as a living benefit and that as long as the 7% withdrawal rate was not exceeded, then the original premium was a protected death benefit

Settlement Amount: $150,000.00

Broker Comment: This is a settlement filing. No filing on opening as the complaint was verbal.

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