RICHARD JAMES BEATTY is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 3801 KENNETT PIKE, B-200, GREENVILLE, DE, 19807.
RICHARD JAMES BEATTY has worked at WELLS FARGO CLEARING SERVICES, LLC since January 01, 2008
Disclosure History
RICHARD JAMES BEATTY has 3 Disclosure Event(s).
Date: October 16, 2000 Category: Customer Dispute Allegations: CLIENTS ALLEGED THAT THE PROVISIONS OF THEIR VARIABLE LIFE POLICIES WERE MISREPRESENTED AT THE TIME OF SALE. NO SPECIFIC DAMAGES ALLEGED. POLICY SIGNED ON 12/24/1986. Settlement Amount: $149,000.00 Broker Comment: IN ORDER TO AVOID THE COST AND UNCERTAINTY OF FURTHER DISPUTE REGARDING THIS MATTER, CLIENTS WERE PAID $149,000.
Date: February 15, 1996 Category: Customer Dispute Allegations: INAPPROPRIATE INVESTMENT STRATEGY, INCOMPETANT STRATEGY IMPLEMENTATION. (1995) Damage Amount Requested: $24,000.00 Damages Granted: $10,983.00 Broker Comment: AWARD: $10,983THERE WERE TWO ISSUES IN THIS CASE - THE HANDLINGOF THE ACCOUNT WHILE I WAS THE BROKER AND WHAT HAPPENED AFTER. THE AMOUNT AWARDED REPRESENTS THE EXPERIENCE OF THE ACCOUNT WHEN I WAS NO LONGER INVOLVED.
Date: July 21, 1988 Category: Customer Dispute Allegations: THAT INVESTMENTS IN A LIMITED PARTNERHSIP AND STOCKS WERE UNSUITABLE. (1986) Damage Amount Requested: $50,000.00 Settlement Amount: $39,000.00 Broker Comment: COMPLAINT WAS SETTLED WITH A PAYMENT OF $39,000 TO CUSTOMER AND CUSTOMER GAVE UP INTEREST IN THE INVESTMENTS. I DID NOT PARTICIPATE IN THE SETTLEMENT NOR WERE ANY FINES OR PENALTIES ASSESSED AGAINST ME. AT THE TIME THE INVESTMENTS WERE MADE, CUSTOMER RECEIVED ADVICE FROM OTHER SOURCES WHO THOUGHT MY RECOMMENDATIONS WERE SOUND. IT WAS THE MARKET DECLINE IN 1987 AND THE ILLIQUIDITY OF THE LIMITED PARTNERSHIP THAT PROMPTED THE COMPLAINT.
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