Vernon Sears Terminated From Wells Fargo Clearing Services in Connection to Alleged Rule Violations

Vernon SearsPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on May 29, 2018 indicate that former Texas-based Wells Fargo Clearing Services broker/adviser Vernon Sears, who has received a customer dispute, was discharged from his former employer in connection to alleged rule violations is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Sears (CRD# 5783551).

Vernon Sears has spent seven years in the securities industry and was most recently registered with Wells Fargo Clearing Services in San Antonio, Texas (2014-2018). He was previously registered with Raymond James & Associates in San Antonio, Texas (2010-2014). He has passed two securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on August 19, 2010, and Series 7 (General Securities Representative Examination), which he obtained on June 18, 2010. He is currently not registered with any state or firm.

According to his BrokerCheck report, he was discharged from his former employer in connection to alleged rule violations, and he has received one customer complaint and one denied customer complaint.

In March 2018 he was terminated from his position at Wells Fargo Clearing Services in connection to allegations of “concerns related to [his] unit investment trust sales practices,” which themselves included concerns regarding his “analysis of clients’ ability to hold to maturity.”

In September 2017 a customer alleged Vernon Sears, while employed at Wells Fargo Advisors, forged her signature on an application to open a joint account and transferred the funds she deposited into his personal checking account. The customer sought unspecified damages in the complaint, which was denied.

In 2015 a customer alleged Vernon Sears, while employed at Wells Fargo Advisors, did not inform him that withdrawing funds from his annuity would “impact his potential for annual step ups in value,” or that those annual increases would continue for the policy’s beneficiary after the client’s death. The complaint settled for $45,135.

If you or someone you know has complaints regarding Vernon Sears, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.