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
Disclosure History
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.
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