Stifel Nears $200M in Payouts Over Broker Chuck Roberts

Stifel has paid about $199.5 million in settlements and arbitration awards tied to investment recommendations by barred broker Chuck A. Roberts, resolving 16 customer disputes while 23 complaints remain pending.

The most recent payment was a $1.175 million settlement reached in April 2026, bringing the total to just over $199.5 million for complaints filed since late 2022. Roberts ran a Stifel-affiliated practice called CR Wealth Management Group in Miami and New York.

FINRA BrokerCheck shows 43 customer disputes logged against Roberts since October 2022, including two opened in March 2026. Of the 43 complaints, 16 have produced settlements or arbitration awards, three were denied by Stifel, one was withdrawn by the complainants and 23 are still pending.

Many cases centered on recommendations of structured notes, a debt-linked investment with terms that can be hard for retail investors to evaluate. In March 2025, a FINRA arbitration panel ordered Stifel to pay $132.5 million in a case brought by four members of the Jannetti family; that award is the largest retail arbitration award in FINRA history.

Stifel challenged that award in federal court but the challenge failed; the firm later agreed to settle. Other penalties tied to Roberts’ recommendations include an arbitration award of about $14.3 million in October 2024 and two settlements in 2025: $16 million on April 21 and $13.5 million on May 20.

Roberts resigned from Stifel in June 2025 and was barred from the securities industry by FINRA in July 2025. The remaining complaints are moving through FINRA arbitration or settlement negotiations.

Stifel has paid some awards and negotiated settlements without going to arbitration to resolve several of the complaints.