The law firm of Oakes & Fosher is currently investigating the possible negligence and/or misconduct by securities broker Robert Salles. According to his publicly available FINRA BrokerCheck report, Robert Salles has been the subject of multiple customer complaints over the course of his career.

Robert Salles is currently operating as a Florida based securities broker. He has worked in the securities industry for thirty-two years. During his career, he has been registered with eight different securities firms.

His Registrations

  • Morgan Gladstone (1987)
  • Bradstreet Capital, Inc. (1987)
  • Hampton Securities (1987-1989)
  • Robyns Capital Corp. (1989)
  • J.T. Moran & Co. (1989-1990)
  • The GMS Group (1990-1997)
  • Salmon Smith Barney (1997-2002)
  • Herbert J. Sims & Co. (2002-Present)

The Allegations

  • In August 2001, a customer alleged that Robert Salles engaged in fraud, breached his fiduciary duty, recommended unsuitable investments, misrepresented material details regarding the investments, and handled their account negligently. This case was settled for $65,000 in damages.
  • In October 2017, customers alleged that Robert Salles made unsuitable investment recommendations. This case is currently pending. The customers are seeking $16,000 in damages.
  • In May 2018, a customer alleged that Robert Salles breached his fiduciary duty, managed their account negligently, breached contract, committed fraud, and made material misrepresentations of fact. This case was settled for $15,000 in damages.
  • In July 2018, a customer alleged that Robert Salles recommended unsuitable investments.

What Does This Mean?

Securities brokers are expected to disclose all relevant information to their customers accurately. If a securities broker conveys falsified information to a customer, whether intentional or accidental, they have engaged in misrepresentation. This act can be detrimental to investors as it can lead to them making crucial financial decisions based on misinformation. This can cause the investor to experience significant financial detriment.

Oakes & Fosher Can Help

Many investors are still unaware of the legal recourse available to them after losing money due to securities broker fraud or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors who have lost money in this fashion all across the nation. If you, or someone you know, have lost money investing with Robert Salles, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.