Last Updated: April 2025 | New Bern, NC
Here’s what you need to know about former New Bern, NC, investment advisor Duane Pellman:
- Name: Mr. Duane Scott Pellman
- Current Employer: Not currently registered
- Prior Employers: Excel Wealth Management, Belpointe Asset Management, Principal Securities, InterCarolina Financial Services, W.R. Rice Financial Services
- Function: Stockbroker / Financial Advisor
- DBA: Pellman Financial Group
- Aliases: Duane S. Pellman
- Primary Location: New Bern, NC
- CRD: 2426979
- Sanctioned by FINRA: No
- Employment Separation after Allegations: Yes
- Highest Settlement or Award: $450,000
If you’ve sustained damages from Mr. Pellman, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Duane Scott Pellman As Your Stockbroker?
Multiple customers of Excel Wealth Management were paid substantial settlements to resolve allegations that Duane Pellman recommended unsuitable and speculative investments, particularly leveraged exchange-traded funds (ETFs), resulting in significant financial losses.
Recent cases include:
- Case Number: 23-03196
Filing Date: 11/08/2023
Settlement: $478,260 - Case Number: 23-03192
Filing Date: 11/02/2023
Settlement: $46,525 - Case Number: 23-02805
Filing Date: 10/11/2023
Settlement: $92,925 - Case Number: 23-00450
Filing Date: 05/12/2023
Settlement: $450,000 - Case Number: 23-03195
Filing Date: 11/06/2023
Settlement: $323,660
In 2023 Pellman was permitted to resign from Excel Wealth Management after suitability based concerns surrounding the investment management of client assets.
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090) Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
FINRA Rule 2111- suitability -Regulation Best Interest
Allegations of Broker Misconduct Against Duane Scott Pellman
Customers of Duane Pellman have alleged the following misconduct:
- Unsuitable Investment Recommendations
- Excessive Trading in Risky Products
- Breach of Fiduciary Duty
- Fraudulent Misrepresentations
- Failure to Properly Supervise
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Duane Scott Pellman, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.