Stifel Faces Nearly $200 Million Liability to Chuck Roberts' Former Clients

2 articles · Updated · InvestmentNews · Jun 16

Nearly $200 million in damages and settlements has been paid or remains owed by Stifel to former clients of advisor Chuck Roberts, marking the report's central legal and financial hit.
The liability stems from claims tied to Roberts' former client relationships, leaving Stifel either already out cash or still exposed to additional payments.
The disclosure appeared alongside broader wealth-management industry moves, including UBS adding six Southeast advisors overseeing more than $2 billion and Osaic recruiting a $300 million family-led practice from Wells Fargo FiNet.
The case underscores the potentially steep cost to wealth firms when advisor-related client disputes escalate into large settlements and damages.