The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Michigan-based Wells Fargo broker/adviser Guy Staples (CRD# 1010847).
Guy Staples has spent 33 years in the securities industry and has been registered with Wells Fargo Advisors in Grand Rapids, Michigan since 1999. Previous registrations include First Union Capital Markets in Charlotte, North Carolina (1999); Roney & Company in Detroit, Michigan (1998-1999); and Roney & Company, LLC in Detroit, Michigan (1981-1988). Mr. Staples is a broker and investment adviser registered with ten US states and territories, including Arizona, California, Colorado, Illinois, Michigan, and Pennsylvania.
According to his BrokerCheck report, Guy Staples is the subject of two customer complaints and one pending customer complaint.
In 2014 a customer alleged Guy Staples, while employed at Wells Fargo Advisors, made unsuitable investment recommendations from January 2008 through July 2013. The complaint settled in 2015 for $325,000.
In 2014 a customer alleged Guy Staples, while employed at Wells Fargo Advisors, recommended unsuitable investments. The customer is seeking at least $1,700,000 in damages in the pending complaint.
In 2001 a customer alleged Guy Staples, while employed at Roney & Company, breached his fiduciary duty, recommended unsuitable investments, and misrepresented material facts related to an investment. The complaint resulted in an award to the customer of $98,000.
FINRA rules and federal securities law state that brokers like Guy Staples have a duty to recommend only investments that are suitable for their clients. This means brokers must consider such factors as age, investment experience, investment goals, income, net worth, and risk tolerance. They may not omit or misrepresent material facts pertaining to the product in a manner that might lead clients to make unsuitable investments. Brokerage firms have a supervisory duty to ensure that their brokers comply with these regulations. Brokers and firms who engage in misrepresentation and/or unsuitability may be subject to disciplinary action.
If you have complaints regarding Guy Staples or Wells Fargo Advisors, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recoup your losses. All cases are taken on a contingency basis: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.