Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on August 11, 2017 indicate that New Jersey-based Wells Fargo Clearing Services broker/adviser Dennis McNamara has been sanctioned by FINRA and issued a suspension from acting as a broker. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. McNamara (CRD# 1791930).
Dennis McNamara has spent 29 years in the securities industry and has been registered with Wells Fargo Clearing Services in Wayne and Bogota, New Jersey since 2013. Previous registrations include PNC Investments in Wayne, New Jersey; Banc of America Investment Services in Glen Rock, New Jersey; Quick & Reilly in New York, New York; International Securities Corporation in New York, New York; Leumi Securities Corporation in New York, New York; Hibbard Brown & Company in New York, New York; and Sherwood Capital. He is a registered broker and investment adviser with six US states: California, Florida, New Jersey, New York, North Carolina, and Pennsylvania.
According to his BrokerCheck report, he has received three customer complaints and one FINRA sanction.
In August 2017 FINRA sanctioned him following allegations he “willfully failed to timely disclose three reportable financial events on his Form U4 including a state tax lien, a civil judgment in connection with unpaid credit card debt, and a mortgage foreclosure judgment entered against him.” FINRA’s findings state further: “the tax lien and judgments totaled over $79,000. Although all three debts have since been satisfied, they were never reported.” He was issued a 60-day suspension and a fine of $5,000.
In 2014 a customer alleged Dennis McNamara, while employed at PNC Investments, did not make her aware of early surrender penalties connected to a fixed annuity investment. The complaint settled for more than $2,100.
In 2013 a customer alleged Dennis McNamara, while employed at PNC Investments, recommended a switch that caused undesired tax implications. The complaint settled for $9,500.
If you or someone you know has lost money investing with Dennis McNamara, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.