Patrick Dever: $1 Million Complaint Against Stifel Advisor

West Chester, Pennsylvania financial advisor Patrick Dever (CRD# 2202204) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Stifel Nicolaus & Company.

Mr. Dever’s BrokerCheck report discloses three investor complaints. The most recent, filed September 2024, alleges that as a representative of Stifel Nicolaus & Company, he recommended unsuitable stocks and charged excessive fees and commissions on unit investment trust products. The pending complaint alleges damages of $1 million.

An earlier investor complaint, filed in 2018, alleged that as a representative of Stifel Nicolaus, he recommended unsuitable and speculative stock investments. The complaint reached a settlement of $21,041.91.

A third investor complaint, filed in 2010, alleged that as a Morgan Stanley representative, he recommended unsuitable investments in UIT and other products. The complaint reached a settlement of $65,000.

Stifel Nicolaus’ website includes a page dedicated to Mr. Dever’s office in West Chester. “We want to understand your unique financial objectives so that we can develop a strategy specific to your needs and long-term financial goals,” it explains. “Whether you want to plan for retirement, save for your children’s college education, reduce your tax bills, or increase your income to meet monthly expenses, you can expect personalized, professional service and advice.”

According to the Financial Industry Regulatory Authority, Patrick Dever holds 32 years of securities industry experience. Based in West Chester, Pennsylvania, he has been registered as a broker and an investment advisor with Stifel Nicolaus & Company since 2014. His past registrations include Morgan Stanley, Citigroup Global Markets, and Lehman Brothers. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Delaware, Florida, Maryland, New Jersey, New York, Pennsylvania, and Virginia. (Information current as of September 28, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.