Date: April 29, 2013 Category: Customer Dispute Allegations: CLAIMANT ALLEGES THAT UNSUITABLE RECOMMENDATIONS AND MISREPRESENTATIONS WERE MADE IN HIS ACCOUNT WHICH WAS OPENED IN OR AROUND 1996.
Date: March 25, 2013 Category: Customer Dispute Allegations: THE CLIENT ALLEGES THE INVESTMENTS IN HIS ACCOUNT WERE UNSUITABLE CAUSING HIS ACCOUNT TO LOSE VALUE. (9/23/2009-3/13/2013)
Date: February 12, 2013 Category: Customer Dispute Allegations: THE CLIENT ALLEGES THE FA SOLD THE INCORRECT MUTUAL FUND AND THE FIRM FAILED TO TRANSFER/REASSIGN THEIR ACCOUNTS TO ANOTHER WELLS FARGO ADVISORS FINANCIAL ADVISOR AS REQUESTED.
Date: February 05, 2009 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT THE INVESTMENTS IN HIS ACCOUNTS ARE UNSUITABLE. ALSO ALLEGES THAT HIS IRA WAS CONVERTED TO A ROTH IRA WITHOUT HIS AUTHORIZATION, AND THAT HE WAS TOLD BY THE FA IN SEPTEMBER THAT HIS ACCOUNT WAS BEING CHANGED FROM A MANAGED ACCOUNT TO A STANDARD BROKERAGE ACCOUNT, HOWEVER THE ADVISORY FEES WERE STILL CHARGED TO HIS ACCOUNT. ALLEGES UNSPECIFIED DAMAGES, BUT DETERMINED TO BE GREATER THAN $5,000.00. (04/29/2008) Broker Comment: COMPLAINT DENIED. FA'S RESPONSE: THE INVESTMENTS IN THE CLIENTS ACCOUNT WERE SUITABLE AND WERE DESIGNED TO GIVE HIM INCOME BASED ON HIS OBJECTIVES. THE IRA WAS CONVERTED TO A ROTH IRA BASED ON INSTRUCTIONS FROM THE CLIENT ON ADVICE FROM HIS ACCOUNTANT.
Date: July 28, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES NONE OF THE TRADES IN HIS ACCOUNT WERE AUTHORIZED OR SUITABLE FOR A PERSON OF HIS AGE. CLAIM AMOUNT NOT SPECIFIED, LOSS BELIEVED TO EXCEED $5000.00 Broker Comment: CLIENT STATES IN A LETTER TO THE SEC DATED 8-19-2008 THAT THERE WAS A "BIG MISUNDERSTANDING" ON HIS PART AND FA NEVER ENTERED ANY TRANSACTIONS WITHOUT HIS KNOWLEDGE.
Date: December 13, 2002 Category: Customer Dispute Allegations: CLAIMANTS ALLEGE MISREPRESENTATIONS AND UNSUITABILITY. ALLEGED DAMAGES OF $416,000.00. Damage Amount Requested: $416,000.00 Settlement Amount: $62,500.00 Broker Comment: SETTLED.
Date: November 01, 1984 Category: Customer Dispute Allegations: THE CLIENT PURCHASED APPROXIMATELY $35,000WORTH OF STOCKS & TRADED OPTIONS. THE STOCK DECLINED IN VALUEAND NINE MONTHS OR SO AFTER THE TRADE THE CLIENT WANTED THETRADE BROKEN, WANTED ALL HIS MONEY BACK AND SAID THE INVESTMENTWAS UNSUITABLE FOR HIM. HE SUED FOR $35000.00. THE ARBITRATORSAWARDED HIM $5300.00 Damage Amount Requested: $35,000.00 Damages Granted: $6,100.00 Broker Comment: THE FIRM PAID [CUSTOMER] $5300.00 THERE WERENO FINES, PENALITIES, SUSPENSION OF ANY KINDS.DESCRIBED ABOVE IN QUESTION #7
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