Securities Lawyers Blog
Advisor Bryan Benson (Benson), formerly employed by Wells Fargo Clearing Services, LLC (Wells Fargo) has been subject to at least one customer complaint and one regulatory action during the course of his career. According to a BrokerCheck report the customer complaint concerns alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.
In April 2020 FINRA barred Benson after he consented to sanctions and findings that he refused to provide information and documents that were requested by FINRA in connection with an investigation into an investment-related customer complaint. It is unclear the nature of the FINRA complaint that led to Benson’s bar from the industry
In April 2017 a customer complained that Benson violated the securities laws by alleging that Benson engaged in sales practice violations related to unsuitable investments concerning DPPs and limited partnership interests. The claim settled for $415,000.