Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Donovan (Donovan), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Donovan recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $550,000.00 on October 15, 2020.
Allegations as stated by Claimant: Time frame: January to March 2020\<char_lb_r>\, \<char_lb_r>\, Allegations: Claimants’ counsel alleges unsuitability of certain investments, and that such investments resulted in principal losses. Claimants’ counsel further alleges financial advisor executed transactions that resulted in a substantial tax bill without adequately discussing the tax consequences with Claimants.