Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 10, 2016 indicate that former Illinois-based Wells Fargo Advisors broker Randall Girton is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Girton (CRD# 5807758).
Randall Girton has spent three years in the securities industry and was most recently registered with Wells Fargo Advisors in Orland Park, Illinois (2012-2013). He was previously registered with Morgan Stanley Smith Barney in Orland Park, Illinois (2010-2012). He is currently not registered with any state or firm.
According to his BrokerCheck report, Randall Girton has received one regulatory sanction and was discharged from his position at Wells Fargo Advisors.
In March 2015, FINRA sanctioned Randall Girton following allegations that he unsuitably recommended a customer liquidate certain mutual fund Class A shares and invest the proceeds in a proprietary advisory program offered by his member firm, Wells Fargo Advisors. According to FINRA’s allegations, Mr. Girton had no reasonable basis to believe the liquidation was a suitable action, given that there had been “no material changes in the customer’s investment profile” since she purchased them, and the expected return on an investment in the advisory program was “equivalent” to the expected return on the Class A shares; however, the advisory program “incurred additional fees and charges,” according to FINRA. Mr. Girton allegedly later advised the customer “move her assets out of the proprietary investment program and reinvest them in Class A mutual fund shares, again incurring substantial up-front fees and charges.” Finally, FINRA’s complaint stated that Mr. Girton exercised discretion in the customer’s account without obtaining written authorization from the customer nor approval of the account as discretionary from his member firm. Mr. Girton was issued a fine of $12,500 and a three-month suspension from the securities industry.
In 2013, Randall Girton was terminated from his position at Wells Fargo Advisors following allegations that he “placed trades in a client’s account without speaking to the client prior to each trade.”
If you have complaints regarding or have lost money investing with Randall Girton, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Fitapelli Kurta takes every case on a contingency basis, which means Fitapelli Kurta only gets paid if and when you collect money. By law there may be a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.