DOUGLAS MCFALL WOOD is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 19770 MACK AVE., GROSSE POINTE WOODS, MI, 48236.
DOUGLAS MCFALL WOOD has worked at WELLS FARGO CLEARING SERVICES, LLC since July 01, 2003
Disclosure History
DOUGLAS MCFALL WOOD has 1 Disclosure Event(s).
Date: April 29, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES BREACH OF ORAL CONTACT. HE CLAIMS HE GAVE FA VERBAL DISCRETION TO TRADE HIS ACOCUNT, BUT WHEN A STOCK LOST 15% IT WAS TO BE SOLD. THIS WAS NOT FOLLOWED. Damage Amount Requested: $12,000.00 Broker Comment: CLIENT INSTRUCTED ME TO MAKE RECOMMENDATIONS IN SPECULATIVE STOCKS, AND IF THEY LOST 15% TO SELL IMMEDIATELY. WE FOLLOWED THIS ON THE FIRST STOCK THAT LOST 15%. THE STOCK THEN REBOUNDED 20% OVER THE ORIGINAL PURCHASE PRICE. I TOLD TE CLIENT HE NEEDED TO REMOVE THE 15% SELL STOP DISCIPLINE IN ORDER TO CONTINUE THE RELATIONSHIP. HE AGREED. IN ADDITION, MOST OF THE LOSSES GOING FORWARD WERE IN STOCKS THAT HAD A BUY RATING FROM PSI'S RESEARCH DEPT.
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