Our firm is investigating CIBC Private Wealth Advisors, Inc. investment adviser representative and CIBC World Markets Corp. broker Bruce Lawrence Klein (CRD# 1588544) of Chicago, Illinois for potential investment-related misconduct.
According to his FINRA BrokerCheck report, Klein is currently registered with CIBC Private Wealth Advisors, Inc. and CIBC World Markets Corp. His record reflects one pending customer dispute.
Financial Advisor’s Career History
According to his FINRA BrokerCheck report, Bruce L. Klein has been registered in the securities industry with the following firms:
- CIBC Private Wealth Advisors, Inc. — 11/2017 to Present (Chicago, IL)
- CIBC World Markets Corp. — 10/2017 to Present (Chicago, IL)
- GNV Advisors, LLC — 05/2009 to 10/2017 (Chicago, IL)
- Geneva Advisors, LLC — 03/2005 to 09/2017 (Chicago, IL)
- Uhlmann Price Securities, LLC — 01/2005 to 12/2008 (Chicago, IL)
- Raymond James & Associates, Inc. — 11/1999 to 11/2004
- Mercantile Investment Services, Inc. — 06/1997 to 08/1999
- Mark Twain Brokerage Services, Inc. — 07/1995 to 06/1997 and 04/1990 to 03/1994
- Kidder, Peabody & Co. Incorporated — 11/1986 to 02/1990 (New York, NY)
FINRA also reports that Klein has been employed as a registered representative with CIBC Private Wealth Advisors since November 2017 and previously worked as an investment adviser with Geneva Investment Management of Chicago, LLC.
Klein reports the Chartered Financial Analyst (CFA) professional designation. FINRA’s report lists no other business activities.
Bruce Lawrence Klein Allegations and Investor Complaint Explained
FINRA BrokerCheck reflects one pending customer dispute involving Bruce L. Klein.
According to the disclosure, the client alleges that Klein, while acting as an investment adviser representative of CIBC Private Wealth Advisors, Inc., executed securities sales in the client’s managed account during 2024 despite instructions from the client to limit selling activity.
The client alleges that the transactions generated unwanted taxable gains and constituted a breach of fiduciary duties.
Customer Complaint: Alleged Unauthorized or Excessive Selling and Breach of Fiduciary Duty
The BrokerCheck disclosure states that the employing firm when the activities occurred was CIBC Private Wealth Advisors, Inc.
The client alleges that Klein executed securities sales in a managed account in 2024 that disregarded instructions to limit sales. According to the complaint, the transactions resulted in unwanted taxable gains and allegedly breached Klein’s fiduciary duties.
The disclosure provides the following information:
- Complaint Type: Customer Dispute — Pending
- Firm: CIBC Private Wealth Advisors, Inc.
- Allegations: Securities sales allegedly disregarded instructions to limit selling activity and resulted in unwanted taxable gains
- Claim: Alleged breach of fiduciary duties
- Product Type: Equity Listed (Common & Preferred Stock)
- Alleged Damages: $72,221
- Date Complaint Received: 06/18/2026
- Complaint Pending: Yes
- Written Complaint: Yes
- Arbitration or Civil Litigation: No
- Status Date Listed: 07/15/2026
Disclosure Summary
- Customer Dispute — Pending
- Firm involved: CIBC Private Wealth Advisors, Inc.
- Allegations: Klein allegedly sold securities in a managed account contrary to instructions to limit selling activity
- Alleged result: Unwanted taxable gains
- Claim: Breach of fiduciary duties
- Product: Listed common and preferred stock
- Alleged damages: $72,221
- Complaint received: June 18, 2026
- Status: Pending
- Written complaint: Yes
- Arbitration/civil litigation: No
Conclusion
Investors evaluating these allegations should remember that the complaint against Bruce L. Klein remains pending. A pending BrokerCheck disclosure contains allegations that have not been proven or formally adjudicated.
FINRA explains that a pending matter may ultimately be withdrawn, dismissed, resolved in favor of the broker, or concluded through a negotiated settlement without an admission or finding of wrongdoing.
Investors considering doing business with Bruce Lawrence Klein may want to review his complete FINRA BrokerCheck report under CRD# 1588544 for the most current information concerning his registration history and disclosure record.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
Investment professionals who manage client accounts may be required to follow the client’s investment objectives, restrictions, and other instructions governing how the account is managed. Allegations that an adviser disregarded specific instructions concerning securities sales can raise questions regarding whether the account was managed consistently with the client’s directions and the investment professional’s applicable duties.
Claims involving unwanted transactions may also involve significant tax consequences. In Klein’s reported customer complaint, the client specifically alleges that securities sales made during 2024 generated unwanted taxable gains after instructions were given to limit selling activity. These remain allegations, and FINRA reports that the complaint is pending.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, unsuitable recommendations, breach of fiduciary duty, and other investment-related misconduct. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis.
Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.