Galen Foster: Did Stifel Advisor Make Unauthorized Trades?

Nashville, Tennessee financial advisor Galen Foster (CRD# 1394526) has received multiple investor complaints alleging that his conduct resulted in damages in the customer’s account. Financial Industry Regulatory Authority records show that he is registered as a broker with Stifel Nicolaus.

Mr. Foster’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in July 2026, alleges that as a representative of Stifel Nicolaus, he effected unauthorized transactions in the customer’s account. The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 2021, alleged that as a representative of Stifel Nicolaus, he purchased securities without the customer’s permission or consultation. The complaint reached a settlement of $37,000.

Investors should be aware that securities industry rules and standards prohibit representatives like Mr. Foster from effecting trades without a customer’s authorization. FINRA Rule 3260, for example, outlines certain conditions under which brokers can make discretionary trades, while forbidding the use of discretion without the customer’s prior written authorization and a firm’s written approval of the account as discretionary. FINRA Rule 2010, meanwhile, requires brokers to “observe high standards of commercial honor and just and equitable principles of trade,” which generally means that they may not perform unauthorized transactions. Brokers who violate these rules may be held liable for damages.

According to the Financial Industry Regulatory Authority, Galen Foster holds 40 years of securities industry experience. Based in Nashville, Tennessee, he has been registered as a broker with Stifel Nicolaus since 2014. His past registrations include Sterne Agee & Leach, UBS Financial Services, and JC Bradford. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Municipal Securities Representative Examination, or Series 52; the General Securities Representative Examination, or Series 7; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 14 state licenses. (Information current as of August 25, 2026.)

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