Articles Tagged with Wells Fargo Clearing Services

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Andrew Polis (Polis), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Polis 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 $85,000.00 on November 20, 2023.

Arbitration: Beginning in 2020, Claimant alleges his Financial Advisor (FA) made unauthorized purchases in Claimant’s account.\, Complaint: Customer complained that the financial advisor placed him in CDs that were longer term than instructed. (7/13/2020-7/18/2023)

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Pasquale Capone (Capone), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Capone 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 $600,000.00 on November 21, 2023.

Claimant alleges unsuitable investment recommendations were made

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kenneth Welsh (Welsh), previously associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Welsh recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on December 08, 2023.

Claimant alleges that beginning around September 2012, the financial advisor made unsuitable investments, specifically in unit investment trust (UIT) and exchange-traded funds (ETF), to maximize his compensation

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joseph Randolph (Randolph), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Randolph recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on June 20, 2023.

Petitioner alleges that the FA did not give correct instructions for a beneficiary designation regarding the transfer-on-death beneficiary form thus causing the improper withdrawals and/or transfer of monies from the client’s accounts. Petitioner also alleges that the financial advisor was going to file a form to correct the designation post-death.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Warren Hartzman (Hartzman), currently associated with Wells Fargo Clearing Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Hartzman 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 $45,006.46 on September 09, 2020.

Client claimed that the financial advisor was not acting in her best interest by misrepresenting and providing misleading information about the unsuitable investments in her portfolio. (3/1/2013-9/9/2020)

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Flahive (Flahive), previously associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Flahive recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $517,499.89 on December 19, 2023.

Claimants allege that beginning in 2020, an agreement with the FA on commissions to be charged ceased being followed without the consent of Claimants who were overcharged.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Raul Benitez (Benitez), previously associated with Wells Fargo Clearing Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Benitez 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 $500,000.00 on January 22, 2024.

Clients allege representative made unsuitable and misrepresentations of recommendations in September 2014 and March 2015.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Franz Koch (Koch), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Koch recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on January 24, 2024.

Client alleges Unauthorized trading

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kenneth Ibbetson (Ibbetson), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Ibbetson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on February 03, 2024.

Customer complained that commissions should not have been charged to liquidate securities that had been purchased in advisory/fiduciary account. (5/18/2023-8/14/2023)

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joseph Paoletti (Paoletti), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Paoletti 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 $40,000.00 on February 02, 2024.

Executrix alleged, inter alia, that the margin debit balance in the deceased client’s account was not managed in the best interests of the estate while the estate was being settled   2016-2023

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