JOHN LANHAM FERRIS is currently employed as a Broker and/or Investment Adviser at WEDBUSH SECURITIES INC. located at 5949 SHERRY LANE, STE 1475, DALLAS, TX, 75225.
JOHN LANHAM FERRIS has worked at WEDBUSH SECURITIES INC. since July 13, 2015
JOHN LANHAM FERRIS has 6 Disclosure Event(s).
Date: February 22, 2017 Category: Customer Dispute Allegations: Client alleges an investment change chosen by the FA transitioned the portfolio from one of the safest asset classes to one of the riskiest, with no diversification and is producing negative results.(11/15/2012) Broker Comment: I HAVE ABSOLUTELY NO RECOLLECTION OF EVER TALKING WITH THIS CLIENT, NOR ENTERING ANY ORDER FOR THE ACCOUNT SPECIFIED. SINCE THIS OCCURED IN 2012, I MAY OR MAY NOT HAVE BEEN INVOLVED, BUT AS STATED, I HAVE NO RECOLLECTION OF IT.
Date: July 10, 2015 Category: Employment Separation After Allegations Firm Name: WELLS FARGO ADVISORS, LLC. Termination Type: Voluntary Resignation Allegations: FA RESIGNED FROM WELLS FARGO ADVISORS, LLC, WHILE AN INTERNAL INVESTIGATION WAS PENDING REGARDING HIS USE OF A THIRD PARTY MONEY MANAGER WHO HAD BEEN PREVIOUSLY BARRED BY THE SEC FROM ACTING IN SUCH A CAPACITY. AT THE TIME OF HIS RESIGNATION, FA WAS UNAWARE THAT THE INVESTIGATION WAS STILL PENDING. Broker Comment: THE ALLEGATION SHOWING IN ITEM 4 IS TOTALLY FALSE. I WAS QUESTIONED BY WELLS FARGO ADVISORS COMPLIANCE IN MAY 2015, IN THE PRESENCE OF BOTH MY BRANCH MANAGER AND COMPLEX MANAGER REGARDING A QUESTION AS TO WHETHER OR NOT I HAD ACCEPTED ORDERS FROM AN INDIVIDUAL WHO WAS BARRED BY THE SEC FROM ACTING IN A MONEY MANAGER POSITION. I HAD NOT DONE SO AND TOLD THEM THAT. I NEVER WAS CONTACTED AGAIN AND HAD NO IDEA ANY INVESTIGATION WAS ONGOING. BOTH MY MANAGER AND COMPLEX MANAGER TOLD ME THE DAY I WAS QUESTIONED THAT THE ISSUE WAS TAKEN CARE OF. WELLS HAS AMENDED THE FILING NOTED TO CONFIRM I WAS UNAWARE OF ANY INVESTIGATION WHEN I LEFT THE FIRM IN JULY. IT IS MY BELIEF THAT WELLS FARGO MADE THIS KNOWINGLY FALSE ALLEGATION IN AN EFFORT TO PUNISH ME FOR LEAVING, KNOWING IT WOULD TRIGGER A FINRA INVESTIGATION. WHILE WITHOUT MERIT, IT HAS HAD THE EFFECT OF DELAYING MY REGISTRATION IN MULTIPLE STATES AND HAD COST ME A SIGNIFICANT AMOUNT OF PRODUCTION.
Date: April 09, 2007 Category: Customer Dispute Allegations: CUSTOMER STATES THAT PURCHASE OF ALTEON STOCK ON 1/10/05 WAS UNSUITABLE AND RESULTED IN LOSSES OF APPROXIMATELY $42,000. Damage Amount Requested: $42,000.00 Broker Comment: CLAIM DENIED.
Date: October 02, 1984 Category: Customer Dispute Settlement Amount: $16,000.00 Broker Comment: FERRIS IS NAMED IN A COMPLAINT FILED WITH THE NASDBY CUSTOMER. CUSTOMER STATES THAT HE PURCHASED2,000 SHARES OF A NEW ISSUE OF SATELCO COMMON STOCK ON JULY13,1983, PAYING $12.00 PER SHARE. THE PURCHASE WAS RECOMMENDEDBY FERRIS AND THE CLIENT ALLEGES THAT ON FERRIS' RECOMMENDATIONSTATED THAT AS A NEW ISSUE, THE SATELCO SHARES WOULD APPRECIATEAFTER COMPLETION OF THE OFFERING. SUBSEQUENT TO THE ORIGINALPURCHASE, SATELCO DID NOT APPRECIATE; IN FACT, ITS MARKET PRICEDECLINED. AFTER THE ANTICIPATED APPRECIATION DID NOTMATERIALIZE, CUSTOMER EXPRESSED HIS DESIRE TO TAKE HISLOSSES BY SELLING THE STOCK AT AROUND $8.00/SHARE. HOWEVER, MR.FERRIS ADVISED CUSTOMER THAT THE RELEASE OF SATELCO'SEARNINGS STATEMENT WAS IMMINENT, AND THAT SCHNEIDER, BERNET &HICKMAN HAD BEEN ADVISED THAT SUCH EARNINGS WOULD BE QUITEFAVORABLE. BASED UPON THE FOREGOING, CUSTOMER PURCHASEDANOTHER 2,000 SHARES OF SATELCO AT A PRICE OF $8.18831, HOPINGTHEREBY TO AVERAGE HIS LOSS AT AROUND $2.00 PER SHARE.UNFORTUNATELY, THE FAVORABLE EARNINGS DID NOT MATERIALIZE ANDSATELCO DECLINED FURTHER IN VALUE. THE COMPLAINT FURTHER ALLEGESTHAT FERRIS STATED AS A FACT THAT SATELCO WOULD APPRECIATE AFTERCOMPLETITON OF THE UNDERWRITING; HOWEVER, FERRIS FAILED TO STATETHAT THIS IS A FUNCTION OF THE USUAL MANNER IN WHICH NEW ISSUESARE PRICED FOR PURPOSES OF AN UNDERWRITING AND THAT SUCHAPPRECIATION DOES NOT MATERIALIZE. IN CONNECTION WITH THEPURCHASE OF SATELCO SECURITIES, SCHNEIDER, BERNET & HICKMANAND/OR ITS AGENTS, MADE UNTRUE STATEMENTS OF MATERIAL FACTAND/OR FAILED TO STATE MATERIAL FACTS NECESSARY IN ORDER TO MAKETHE STATEMENTS MADE NOT MISLEADING; SCHNEIDER, BERNET & HICKMANMAY HAVE INADEQUATELY SUPERVISED REGISTERED REPRESENTATIVES FORWHICH IT HAD RESPONSIBILITY. THE NASD RECEIVED THE COMPLAINT INAPRIL, 1984 AND IS STILL PENDING. *****SEE FAQ #1*
Date: May 04, 1960 Category: Criminal Charges: ENTERING PLACE OF AMUSEMENT WITHOUT PAYING Disposition: Dismissed
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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
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