JOHN LOWELL WAITE is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 120 W PARK DR STE 105, GRAND JUNCTION, CO, 81505.
JOHN LOWELL WAITE has worked at WELLS FARGO CLEARING SERVICES, LLC since January 01, 2008
JOHN LOWELL WAITE has 2 Disclosure Event(s).
Date: February 09, 2009 Category: Customer Dispute Allegations: CLAIMANT, A RESIDENT OF COLORADO, IS ALLEGING CLAIMS OF SUITABILITY, MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE AND FRAUD AGAINST FA FOR SECURITIES INVESTMENTS MADE IN CLAIMANT'S ACCOUNTS IN 2008 WHICH PRODUCED LOSSES OF $114,742.00. CLAIMANT SEEKS ACTUAL DAMAGES OF $114,742, PLUS INTEREST, FEES AND PUNITIVE DAMAGES. Damage Amount Requested: $114,742.00 Settlement Amount: $55,000.00 Broker Comment: **RESPONDENTS' DENIED ALL ALLEGATIONS OF WRONGDOING.FA'S RESPONSE: CLAIMANT DEMANDED INCOME OF $2,000 PER MONTH. SHE WAS ADVISED THAT TYPE OF RETURN ON HER ASSET BASE WOULD REQUIRE MORE RISK THAN SOME INVESTMENT ALTERNATIVES. THE INVESTMENTS RECOMMENDED WERE APPROPRIATE FOR HER INVESTMENT GOALS AND PREFERENCES
Date: February 05, 2009 Category: Customer Dispute Allegations: CLIENTS ALLEGE INVESTMENTS WERE NOT APPROPRIATE FOR AGE AND FINANCIAL SITUATION. DAMAGES ARE NOT SPECIFIED BUT ARE BELIEVED TO EXCEED $5,000. (06/01/2007 - 02/04/2009)***ARBITRATION ALLEGATIONS: CLAIMANTS, RESIDENTS OF COLORADO, ALLEGE SUITABILITY, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD AND MISREPRESENTATION AGAINST FA FOR INVESTMENTS ALLEGED TO BE OF HIGH-RISK IN THEIR ACCOUNTS FROM 2007-2009. CLAIMANTS SEEK DAMAGES OF $250,000 PLUS INTEREST, FEES, COSTS AND PUNITIVE RELIEF. Damage Amount Requested: $250,000.00 Damages Granted: $100,300.00 Broker Comment: CLIENTS WERE TAKING A MONTHLY DRAW FROM THEIR ACCOUNTS AND THE ADDITION OF SEVERAL PREFERRED STOCKS, WHICH CONTINUE TO PAY A DIVIDEND THOUGH THE PRICE PER SHARE DECLINED, WAS APPROPRIATE IN MY OPINION.***ARBITRATION SERVED 09/28/2009.CLAIMANT WAS AWARDED $100,000.00 IN COMPENSATORY DAMAGES AND $300.00 FOR REIMBURSEMENT FOR THE NON-REFUNDABLE PORTION OF THE INITIAL CLAIM FILING FEE, FOR A TOTAL OF $100,300.00.
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
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.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for JOHN LOWELL WAITE, click here.
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.
How to choose a broker or investment adviser. Learn More