Stoltmann Law Offices is investigating former Wunderlich Securities broker Bassam Salem, relating to alleged misconduct including failure to supervise, unauthorized trading, unsuitability, and breach of fiduciary duty over multiple accounts and damages in excess of $281,000. In another dispute, a customer was granted $92,500 in damages after it was alleged that Salem recommended unsuitable stocks and failed to diversify the customer’s accounts to minimize their risk between June 1, 2007 and June 30, 2008. Wunderlich Securities has a duty to reasonably supervise their registered representatives, and, if the firm does not, can be liable for losses sustained. If you invested money with Bassam Salem, you may be able to recover your losses in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis. We represent investors who have lost money because of brokers with firms such as Wunderlich Securities.
Salem was registered with First Heritage Corp from November 1986 until November 1988, Prudential Securities Inc. in New York, New York from November 1988 until March 1992 and UBS Financial Services in Farmington Hills, MI from March 1992 until January 2011. He is currently registered with Wunderlich Securities in Birmingham, Michigan and has been since January 2011. He has two customer disputes against him, one of which is currently pending.