Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on January 5, 2017 indicate that former California-based Wells Fargo Advisors broker/adviser John Bodovitz has been discharged from his former employer and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Bodovitz (CRD# 1197656).
John Bodovitz has spent 33 years in the securities industry and was most recently registered with Wells Fargo Advisors in Newport Beach, California (2003-2016). Previous registrations include Prudential Securities in New York, New York; Kidder Peabody & Company in New York, New York; and Smith Barney Harris & Upham. He has passed three securities industry examinations: Series 63 (TKTK), Series 3 (TKTK), and Series 7 (TKTK). He is currently not registered with any state or firm.
According to his BrokerCheck report, John Bodovitz has been discharged from one former employer in connection to allegations of misconduct.
In December 2016 John Bodovitz was terminated from his position at Wells Fargo Advisors following allegations involving “Concerns related to the appropriateness of investment strategies.” According to an AdvisorHub report, the Securities and Exchange Commission was concerned about alleged unsuitable trading by Mr. Bodovitz. The report cites a Wells Fargo Advisors manager who told AdvisorHub that the SEC “began questioning Bodovitz’ heavy trading several months ago, focusing on his inability to produce client-suitability or planning documents.”
According to FINRA rules and federal securities law, brokers like John Bodovitz may only recommend investments that are consider suitable for their clients’ investment profiles. They must weigh such factors as the customer’s investment goals, experience, age, income, risk tolerance, and more. Investment professionals may not misrepresent or omit material facts pertaining to an investment, as misrepresentations or omissions might lead a customer to invest unsuitably. Brokers who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with John Bodovitz, call Fitapelli Kurta at 877-238-4175 without delay. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.