By Kenneth Corbin

Chuck Roberts, the star broker whose structured-notes strategy has resulted in numerous customer complaints and a $132.5 million arbitration award, has left Stifel, according to registration records.

Roberts, a 35-year industry veteran who had been with Stifel since 2016, ended his stint with the broker on July 9, according to the online database BrokerCheck, which doesn't indicate that he has joined another firm.

Roberts couldn't immediately be reached for comment. A Stifel spokesman confirmed that Roberts resigned, but didn't comment further on his departure.

Since joining Stifel, Roberts has been the subject of 31 customer complaints, according to his BrokerCheck record. Most of those remain pending, but in three cases arbiters have heard the arguments and awarded investors damages.

One of those decisions came in March, when an arbitration panel convened by brokerage industry self-regulator Finra granted Stifel clients a $132.5 million award in connection with the structured-notes strategy that allegedly went south.

That is the largest award a Finra panel has ever granted to retail investors, and Stifel has asked a federal court to review and vacate the judgment.

Meanwhile, the complaints against Roberts have continued to pile up. Clients lodged three complaints last month, the most recent coming June 12, according to BrokerCheck.

In disputing the $132.5 million award, Stifel has argued that the affected investors were a "sophisticated family of experienced and aggressive investors who understood the risks involved" with the strategy.

Structured notes are customized products that contain features of bonds and derivatives, with payouts linked to an underlying asset. They can offer downside protection as well as exposure to a variety of asset classes, but can also be complex, illiquid, and, depending how they are designed, carry the risk of principal loss.

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July 11, 2025 14:56 ET (18:56 GMT)

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