MICHAEL TURNER MORRISSETT is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 10 S JEFFERSON ST STES 910 & 2100, [V3-RBO], ROANOKE, VA, 24011.
MICHAEL TURNER MORRISSETT has worked at WELLS FARGO CLEARING SERVICES, LLC since October 01, 2000
Disclosure History
MICHAEL TURNER MORRISSETT has 4 Disclosure Event(s).
Date: April 05, 2018 Category: Customer Dispute Allegations: Arbitration: Claimants allege that FA misrepresented two hedge funds in 2013 and 2015 as suitable for their investment objectives.Complaint: The client alleged that information that was provided about two alternative investments "was misleading." (08/06/2013-11/18/2015) Damage Amount Requested: $2,300,000.00
Date: January 15, 2014 Category: Customer Dispute Allegations: CLAIMANT ALLEGES HER FA PURSUED AN UNSUITABLE INVESTMENT STRATEGY BEGINNING IN 2000 THAT OVEREXPOSED HER ACCOUNT TO THE VOLATILITY OF THE EQUITIES MARKETS DURING THE GLOBAL FINANCIAL CRISIS OF 2008 AND 2009. Settlement Amount: $85,000.00 Broker Comment: WITHOUT ADMITTING ANY LIABILITY, THE FIRM SETTLED THE MATTER FOR $85,000.00 TO AVOID THE TIME, EXPENSE AND DISTRACTION OF FURTHER LITIGATION.
Date: May 01, 2012 Category: Customer Dispute Allegations: THE CLIENT ALLEGES THAT HIS ACCOUNT IS IN A MANAGED ACCOUNT PROGRAM THAT IS UNSUITABLE FOR SAFE FDIC INSURED FUNDS. CLIENT ALLEGES UNSPECIFIED DAMAGES BUT DETERMINED TO BE GREATER THAN $5,000.00. (04/27/2011)
Date: October 19, 2006 Category: Customer Dispute Allegations: ATTORNEY FOR VIRGINIA RESIDENT WRITES THAT FA SOLD ALL OF CLIENT'S GE STOCK RESULTING IN TAX BILL OF $33,000, BUT THAT SHE ONLY AUTHORIZED SALE OF HALF OF THE STOCK, AND THAT FA REINVESTED THE MONEY WITHOUT CLIENT'S AUTHORIZATION. APPROXIMATELY $140,000 OF GE STOCK WAS SOLD IN MAY 2005. Damage Amount Requested: $33,000.00 Broker Comment: FA CERTAIN THAT CLIENTS AUTHORIZED SALE OF ALL GE STOCK TO OPEN FUNDSOURCE ADVISORY ACCOUNT. CLIENTS SIGNED FUNDSOURCE AGREEMENT AND FA SPOKE WITH CLIENT AGAIN PRIOR TO SELLING GE TO CONFIRM INSTRUCTIONS. ACCOUNT IS UP APPROXIMATELY $21,462.
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