BRUCE HOWARD GALPERT is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 315 PASEO DE PERLTA, SANTA FE, NM, 87501.
BRUCE HOWARD GALPERT has worked at WELLS FARGO CLEARING SERVICES, LLC since March 01, 2002
Disclosure History
BRUCE HOWARD GALPERT has 10 Disclosure Event(s).
Date: October 24, 2017 Category: Customer Dispute Allegations: Client alleged FA promised him a monthly income stream that was equal to his former salary, but instead it has been one quarter of his former salary. (6/2/2014-10/24/2017) Broker Comment: I had numerous documented discussions with this client over the course of several years regarding his over-spending habits and his unwillingness to follow a prudent financial plan that we developed together and agreed upon. There was no remuneration paid by me or my firm and the complaint was denied.
Date: November 15, 2004 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT "FA GALPERT DID NOT INFORM [HER] THAT HER ANNUITY INCLUDED HIGH INTERNAL COSTS, NOR DID HE DISCLOSE THE ANNUITY'S HIGH SURRENDER CHARGES OR THE LONG-TERM NATURE OF THE FEES." CLIENT ALSO ALLEGES THAT "THE ANNUITY WAS NOT SUITABLE FOR HER." Damage Amount Requested: $4,290.09 Settlement Amount: $4,290.99 Broker Comment: PLEASE ARCHIVE. ARBITRATION SETTLED, SETTLED FOR LESS THAN $10,000.
Date: March 21, 2003 Category: Customer Dispute Allegations: CLEINT ALLEGED THAT BROKER MISREPRESENTED FEES OF MUTUAL FUNDS,ENGAGED IN UNAUTHORIZED TRADING, AND PLACED CLIENTS IN UNSUITABLE INVESTMENTS. DAMAGES ESTIMATED TO EXCEED $5000. TIME PERIOD: AUGUST-JULY 2002
Date: September 06, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT FA TOD HIM THAT PRINCIPAL OF VARIABLE ANNUITY WAS A GUARANTEED DEATH BENEFIT. Damage Amount Requested: $65,000.00 Settlement Amount: $52,000.00
Date: May 17, 2002 Category: Customer Dispute Allegations: PLAINTIFFS ALLEGE UNAUTHORIZED TRADING, UNAUTHORIZED USE OF MARGIN, UNSUITABILITY, NEGLIGENCE, BREACH OF FIDUCIARY DUTY, MISREPRESENTATION AND FRAUD IN CONNECTION WITH ANNUITIES AND OTHER UNSPECIFIED INVESTMENTS IN THEIR ACCOUNTS. DAMAGES UNSPECIFIED. Settlement Amount: $137,000.00 Broker Comment: LITIGATION WAS STAYED ON 7/5/2002 IN FAVOR OF ARBITRATION.
Date: May 09, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT BROKER MISREPRESENTED AN ANNUITY SURRENDER CHARGE RESULTING IN DAMAGES IN EXCESS OF $5,000. TIME PERIOD: FEBRUARY 1999-PRESENT Damage Amount Requested: $5,112.00
Date: October 29, 2001 Category: Customer Dispute Allegations: CLIENTS ALLEGE THAT FA GALPERT "STARTED BUYING STOCKS WITHOUT OUR KNOWLEDGE OR AUTHORZATION." CLIENTS FURTHER ALLEGE THAT HE "PURCHASED TWO MUTUAL FUNDS" WITHOUT DISCUSSION AND THEN "IMPLEMENTED A RISKY STRATEGY OF AVERAGING DOWN ON A VERY RISK STOCK POSITION" AND DID NOT INFORM THEM ABOUT IT. ALLEGED DAMAGES: NOT SPECIFIED, BUT EST.TO BE OVER $5000.
Date: June 17, 1999 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT THE PAINEWEBBER FA MADE AN UNAUTHORIZED SALE OF WHOLE FOODS, FAILED TO EXECUTE THE SALE OF PRICELINE COM AT $90, DISREGARDED CLIENT'S INVESTMENT PROFILE BY RECOMMENDING SEVEN SEAS PATROLEUM AND DID NOT EXPLAIN THE RISKS OF THE GOLDEN SELECT VARIABLE ANNUITY. CLIENT SEEKS $56,672.98 TIME PERIOD 1998-1999 Damage Amount Requested: $56,672.98 Settlement Amount: $8,350.00
Date: March 11, 1999 Category: Customer Dispute Allegations: CLAIMANT ALLEGES UNAUTHORIZED TRADING,UNSUITABILITY AND BREACH OF FIDUCIARY DUTY REGARDING TRANSACTIONS ORDERED BY AUTHORIZED CPA IN TECHNOLOGY AND OTHER STOCKS IN 1997. CLAIMANT SEEKS DAMAGES IN THE AMOUNT OF $175,617.56. Damage Amount Requested: $175,617.56 Settlement Amount: $70,000.00 Broker Comment: 1. ALTHOUGH THE STATEMENT OF CLAIM ALLEGES UNAUTHORIZED TRADES BY GALPERT, ALL TRADES WERE ENTERED BY [CUSTOMER'S] AUTHORIZED AGENT. 2. ALL CHARGES AGAINST GALPERT WERE DISMISSED PRIOR TO SETTLEMENT. PAINEWEBBER THEN SETTLED THE CLAIM SEPARATELY.
Date: October 01, 1987 Category: Customer Dispute Allegations: THE [CUSTOMERS] HAD INVESTED $27,000 ON JULY 29,1987. THE CLIENTS STATED OBJECTIVE WAS $10,000 FOR LONG TERMGROWTH WITH A HIGH DEGREE OF SAFETY. THE REMAINING AMOUNT WASTO BE PLACED IN CONSERVATIVE INVESTMENTS TO BE UTILIZED BY THECLIENT TO PAY THEIR INCOME TAXES. THE OCTOBER MARKET DECLINESEVERLY ERODED THE CLIENTS INVESTMENTS Settlement Amount: $13,211.00 Broker Comment: FOR THE SAKE OF GOOD CLIENT RELATIONS, IT WASDECIDED TO SETTLE IN THE AMOUNT OF $13,211.00. I CONTRIBUTEDTHE ENTIRE AMOUNT.NOT PROVIDED
More Information
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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
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