According to records provided by the Financial Industry Regulatory Authority (FINRA), former Arizona-based TransAmerica broker Tracy Wengert has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Wengert (CRD# 3182678).
Tracy Wengert has spent 15 years in the securities industry and was most recently registered with Transamerica Financial Advisors in Mesa, Arizona (2012-2015). Previous registrations include World Group Securities in Mesa, Arizona (2002-2012) and WMA Securities in Duluth, Georgia (1999-2002). He is currently not registered with any firm or state.
According to his BrokerCheck report, Tracy Wengert is the subject of one regulatory sanction, one customer complaint, and three pending customer complaints. He was additionally discharged from his position at Transamerica Financial Services.
In October 2015 FINRA sanctioned Tracy Wengert following allegations he “failed to comply with multiple FINRA requests for documents and information in connection with an investigation by FINRA into allegations against Wengert, including that he opened brokerage accounts outside of his member firm on behalf of the firm’s customers and engaged in unsuitable trades in these accounts.” Mr. Wengert has signed a letter of Acceptance, Waiver, and Consent agreeing to a permanent bar from the securities industry.
In September 2015 a customer alleged Tracy Wengert, while employed at Transamerica Financial Advisors, opened accounts for clients outside of his member firm and made unsuitable transactions in those accounts, ultimately leading to financial losses. The customer is seeking $100,000 in damages in the pending complaint.
In May 2015 a customer alleged Tracy Wengert, while employed at Transamerica Financial Advisors, made unsuitable high-risk trades, misrepresented material facts related to an investment, and managed the customer’s investments “on a discretionary basis” at a third-party broker. The customer is seeking more than $307,400 in the pending complaint.
In January 2015 Transamerica Financial Advisors terminated Tracy Wengert following allegations he managed client accounts and exercised discretion in them through a third-party brokerage firm without approval or oversight.
In 2014 a customer alleged Tracy Wengert, while employed at Transamerica Financial Advisors, executed unsuitable high-risk trades, breached his fiduciary duty, misrepresented the investment strategy, mischaracterized losses, and attempted to settle away from his member firm. The customer is seeking more than $732,000 in damages in the pending complaint.
If you or someone you know has complaints regarding Tracy Wengert, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts every case on contingency: we only receive payment if and when you collect money. Time to file your claim might be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.