Articles Posted in Wells Fargo

Silver Law Group has filed a FINRA arbitration claim against Wells Fargo Clearing Services, LLC (Wells Fargo) after its broker allegedly recommended unsuitable, high-risk investments to his elderly customers. According to the securities arbitration complaint, the elderly Claimants were immigrants with the equivalent of a third grade education. The Claimants…

John Bryant (CRD #3202048) was recently discharged by Wells Fargo over concerns about similar trading strategies in multiple customer accounts and has received a customer dispute according to publicly available records published by the Financial Industry Regulatory Authority (FINRA). John Bryant has been registered with American Portfolios Financial Services in…

David Ridenour has been registered with Wells Fargo in Edmond, Oklahoma since 2012. He previously worked for Morgan Stanley Smith Barney. Financial Industry Regulatory Authority (FINRA) CRD records show that Oklahoma-based Wells Fargo Clearing Services broker/adviser David Ridenour has received resolved or pending customer disputes. According to his BrokerCheck report,…

John Greg Schmidt (CRD #708094) is a former registered stockbroker and investment advisor whose last known employer was Wells Fargo Advisors Financial Network, LLC (CRD #11025) in Dayton, OH. He is also known as “Greg Schmidt” or “John Gregory Schmidt.” His previous employers include Stifel, Nicolaus & Company, Incorporated (CRD…

A current client dispute relating to Jeffrey Hawley (CRD #1131302) has been filed against Wells Fargo.  Hawley is a registered broker currently with Wells Fargo Clearing Services, LLC (CRD #19616). Hawley is also a registered investment advisor with the same company. The customer dispute centers on Puerto Rican bonds, which…

Marcus Parker was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Parker consented to the sanction and to the entry of findings that he refused to respond to FINRA’s requests for documents and information in connection with its investigation of Parker’s termination…

Former Broker Charles Henry Frieda (CRD #5502319) has been barred after FINRA investigated more than 50 client allegations of improper investments. Frieda’s last employer of record was Wells Fargo Clearing Services (aka Wells Fargo Advisors, CRD #19616) of Irvine, CA, where he was employed from 10/05/2012 through 09/20/2017. Although he…

Former broker and investment advisor Charles Bernard Lynch, Jr. (CRD #3004877) has been barred by FINRA after 57 customer disputes have been filed against him. His last employer of record was Wells Fargo Clearing Services (aka Wells Fargo Advisors, CRD #19616), where he was employed from 10/05/2012 through 05/02/2016. He…

Richard Shotz (CRD# 1681893) has been with Wells Fargo in Daytona Beach, Florida since 2016. He was recently terminated from Wells Fargo due to a FINRA regulatory action against him in which Shotz was suspended for four months and ordered to pay fines. FINRA found that Shotz engaged in an…

Wells Fargo has disclosed a federal investigation into sales practice violations in customer 401(k)s after a whistleblower cited sales problems in customer accounts. Multiple potential violations are disclosed including improper referrals, excessive fees and undisclosed conflicts of interest.  In the current bull market, many investors did not appreciate the fees…