Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 23, 2017 indicate that former Ohio-based Wells Fargo Advisors Financial Network broker/adviser John Schmidt, who has received a customer dispute, was recently terminated from his former employer in connection to alleged policy violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Schmidt (CRD# 708094).
John Schmidt has spent 37 years in the securities industry and was most recently registered with Wells Fargo Advisors Financial Network in Dayton, Ohio (2006-2017). Previous registrations include Stifel Nicolaus & Company in Dayton, Ohio (2002-2006); First Union Securities in St. Louis, Missouri (1999-2002); First Union Capital Markets in Charlotte, North Carolina (1996-1999); Painewebber in Weehawken, New Jersey (1990-1996); Prudential-Bache Securities in New York, New York (1986-1990); IDS Life Insurance Company (1980-1986); IDS Marketing Corporation (1980-1986); and IDS Financial Services (1980-1986). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on June 1, 2006; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on June 19, 1981; Series 7 (General Securities Representative Examination), which he obtained on December 14, 1985; Series 1 (Registered Representative Examination), which he obtained on April 22, 1980; and Series 24 (General Securities Principal Examination), which he obtained on March 26, 2007. He is currently not registered with any state or firm.
According to his BrokerCheck report, he was discharged from his former employer and has received one customer complaint.
In October 2017 he was terminated from his position at Wells Fargo Advisors Financial Network following allegations involving “unauthorized money movement between clients” and after the firm’s notification “of an allegation of the existence of inaccurate account statements which appear not to have been generated or approved by the Firm.”
In 2007 a customer alleged John Schmidt, while employed at Stifel Nicolaus & Company, acted negligently, committed fraud, breached his fiduciary duty, breached contract, ad engaged in malpractice. The complaint settled for $80,000.
If you or someone you know has lost money investing with John Schmidt, 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.