Articles Tagged with Wells Fargo Advisors

Wells Fargo AdvisorsNews reports by Financial Advisor IQ, the Los Angeles Times, and other outlets indicate that the Financial Industry Regulatory Authority (FINRA) has ordered Wells Fargo Advisors to pay a sum of more than $8 million dollars to the former chief executive officer of OfficeMax, the office supplies chain, in connection to Puerto Rico bond investments.

According to the Los Angeles Times, the former officer, Sam Duncan, in 2016 sued Wells Fargo and its broker Marc Rogers over the sales of Puerto Rico bonds which he alleged were unsuitable for his investment profile. He also alleged that Mr. Rogers declined to abide by the firm’s own analysis of Puerto Rico bonds as unsuitable for conservative investment profiles. Mr. Rogers’ bonds were held by a trust established for his children, according to his Times, citing his attorney, who said: ““Rogers knew this was a trust — knew this was money to be invested for future generations… It didn’t take a rocket scientist to know these were risky investments.”

In connection with Mr. Rogers’ lawsuit, a panel of FINRA arbitrators determined that Mr. Rogers and Wells Fargo Advisors owe Mr. Duncan $4.2 million to cover his losses, as well as millions in interest, punitive damages and other costs amounting to $8.6 million. A representative of Wells Fargo Advisors told the Times, “We disagree with the award and we are researching our options.” Mr. Duncan’s lawsuit also named Mr. Rogers’ former firm, RBC Capital Markets, which paid a settlement of $25,000 in May.

Martin WeissPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on May 30, 2018 indicate that former New York-based Wells Fargo Advisors broker Martin Weiss has been involved in resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Weiss (CRD# 601031).

Martin Weiss has spent 45 years in the securities industry and was most recently registered with Wells Fargo Advisors in Melville, New York (2015-2016). Previous registrations include David Lerner Associates in Syosset, New York (1988-2015); Gruntal & Company (1985-1987); Herzfeld & Stern (1980-1985); and Loeb Rhoades & Company (1965-1975). He has passed four securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 15, 1983; Series 5 (Interest Rate Options Examination), which he obtained on September 25, 1981; Series 7 (General Securities Representative Examination), which he obtained on September 15, 1979; and Series 1 (Registered Representative Examination), which he obtained on June 4, 1965. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint.

Barbara EndresPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on February 7, 2018 indicate that former Colorado-based Wells Fargo Advisors broker/adviser Barbara Endres has received several regulatory sanctions. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Ms. Endres (CRD# 1688767).

Barbara Endres has spent 25 years in the securities industry and was most recently registered with Wells Fargo Advisors in Grand Junction, Colorado (2009-2014). Previous registrations include Merrill Lynch in Grand Junction, Colorado (2003-2009); J. Scott Securities Corporation in Golden, Colorado (2000-2003); Bisys Fund Services Limited Partnership in Portland, Maine (1997-1998); Charles Schwab & Company in San Francisco, California (1995-1997); FBS Investment Services in Saint Paul, Minnesota (1995); American Investment Services in Oklahoma City, Oklahoma (1992-1995); Painewebber in Weehawken, New Jersey (1990-1992); and Merrill Lynch in New York, New York (1987-1990). She has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which she obtained on September 6, 2000; Series 63 (Uniform Securities Agent State Law Examination), which she obtained on July 16, 1987; and Series 7 (General Securities Representative Examination), which she obtained on June 20, 1987. She is currently not registered with any state or firm.

According to her BrokerCheck report, Barbara Endres has received three sanctions by state regulatory authorities.

John SchmidtPublic 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.

Frank Tegge

Publicly available records published by the Financial Industry Regulatoyr Authority (FINRA) and accessed on August 15, 2017 indicate that former Michigan-based Wells Fargo Advisors broker/adviser Frank Tegge has been sanctioned by FINRA and suspended from acting as a broker. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Tegge (CRD# 443782).

Frank Tegge has spent 45 years in the securities industry and was most recently registered with Wells Fargo Advisors in East Lansing, Michigan (2008-2015). Previous registrations include Ferris Baker Watts in East Lansing, Michigan; McDonald Investments in Cleveland, Ohio; Thomson McKinnon Securities in New York, New York; and Manley Bennett McDonald & Company. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has been sanctioned by FINRA and was terminated from his former employer.

Regan Rohl

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 28, 2017 indicate that North Dakota-based Wells Fargo Advisors Financial Network broker/adviser Regan Rohl has been the subject of several resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Rohl (CRD# 1877645).

Regan Rohl has spent 28 years in the securities industry and has been registered with Wells Fargo Advisors Financial Network in Fargo, North Dakota since 2011. Previous registrations include Morgan Stanley Smith Barney in Fargo, North Dakota; Citigroup Global Markets in Fargo, North Dakota; Dain Rauscher in New York, New York; John G. Kinnard & Company in Minneapolis, Minnesota; and Edward D. Jones in St. Louis, Missouri. He is a registered broker and investment adviser with 28 US states and territories.

According to his BrokerCheck report, he has received two customer complaints and three pending customer complaints.

Thomas Stewart

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 26, 2017 indicate that former Ohio-based Wells Fargo Advisors broker/adviser Thomas Stewart has been sanctioned by FINRA and barred from acting as a broker or otherwise associating with firms that sell securities to the public. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Stewart (CRD# 5425478).

Thomas Stewart has spent eight years in the securities industry and was most recently registered with Wells Fargo Advisors in Cincinnati, Ohio (2013-2016). He was previously registered with Citigroup Glolbal Markets in Florence, Kentucky (2007-2013). He has passed five securities industry examinations: Series 66 (Uniform Combined State Law Examination); Series 63 (Uniform Securities Agent State Law Examination); Series 7 (General Securities Representative Examination); Series 9 (General Securities Sales Supervisor – Options Module Examination); and Series 10 (General Securities Sales Supervisor – General Module Examination). He is currently not registered with any state or firm.

According to his BrokerCheck report, Thomas Stewart has been sanctioned by FINRA and resigned from his former employer.

Hossein AmirriaheiPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 11, 2017 indicate that former California-based Wells Fargo Advisors broker/adviser Hossein Amirriahei has been sanctioned by FINRA and barred from acting as a broker or otherwise associating with firms that sell securities to the public. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Amirriahei (CRD# 2121350).

Hossein Amirriahei has spent 25 years in the securities industry and was most recently registered with Wells Fargo Advisors in Los Angeles, California (2003-2016). Previous registrations include Prudential Securities in New York, New York; Pruco Securities in Newark, New Jersey; and the Prudential Insurance Company of America in Newark, New Jersey. He has passed five securities industry examinations: Series 31 (Futures Managed Funds Examination); Series 6 (Investment Company Products/Variable Contracts Representative Examination); Series 7 (General Securities Representative Examination); 65 (Uniform Investment Adviser Law Examination); and Series 63 (Uniform Securities Agent State Law Examination). He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received one FINRA sanction and one customer complaint, and was discharged from a former employer.

Jeffrey VargasPublic records published by the Financial Industry Regulatory Authority (FINRA) on March 17, 2017 indicate that former Florida-based Western International Securities broker/adviser Jeffrey Vargas has been sanctioned by FINRA and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Vargas (CRD# 5485101).

Jeffrey Vargas has spent seven years in the securities industry and was most recently registered with Western International Securities in Coral Gables, Florida (2016-2017). Previous registrations include Mutual Securities in Miami, Florida; Wells Fargo Advisors in Miami, Florida; and Signator Investors in Miami, Florida. He has passed three securities industry examinations: Series 6 (Investment Company Products/Variable Contracts Representative Examination), Series 7 (General Securities Representative Examination), and Series 66 (Uniform Combined State Law Examination). He is currently not registered with any state or firm.

According to his BrokerCheck report, Jeffrey Vargas has received one FINRA sanction and was terminated from a former employer.

Robert Friedman

Public records published by the Financial Industry Regulatory Authority (FINRA) on March 8, 2017 indicate that Pennsylvania-based Wells Fargo Advisors Financial Network broker/adviser Robert Friedman has been named in a pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Friedman (CRD #1101794).

Robert Friedman has spent 33 years in the securities industry and has been registered with Wells Fargo Advisors Financial Network in Berwyn, Pennsylvania since October 2016. Previous registrations include Wells Fargo Advisors in Berwyn, Pennsylvania; First Union Capital Markets in Charlotte, North Carolina; Legg Mason Wood Walker in Baltimore, Maryland; Merrill Lynch; and Patten Securities Corporation. He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); Series 7 (General Securities Representative Examination); and Series 5 (Interest Rate Options Examination). He is a registered broker and investment adviser with 24 US states and territories.

According to his BrokerCheck report, Robert Friedman has received one pending customer complaint and resigned from one former employer.