RICHARD PHILIP MARCUS is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 5820 CANOGA AVE, STE 100, WOODLAND HILLS, CA, 91367.
RICHARD PHILIP MARCUS has worked at WELLS FARGO CLEARING SERVICES, LLC since December 20, 1996
RICHARD PHILIP MARCUS has 3 Disclosure Event(s).
Date: May 27, 2015 Category: Customer Dispute Allegations: CLIENT ALLEGED FEES WERE CHARGED ON HIS ACCOUNT SOLELY FOR THE BENEFIT OF THE FINANCIAL ADVISOR. (01/01/2015-05/27/2015).
Date: November 11, 2008 Category: Customer Dispute Allegations: CALIFORNIA STATE RESIDENT STATED IN WRITING HIS FA NEGLECTED TO FOLLOW HIS INSTRUCTIONS REGARDING THE MANAGEMENT OF HIS ACCOUNT BY INVESTING IN INVESTMENTS THAT WERE INCONSISTENT WITH HIS RISK TOLERANCE OF PRESERVATION OF PRINCIPAL. CUSTOMER STATES HIS LOSSES ASSOCIATED WITH THE UNSUITABLE INVESTMENTS SUCH AS GM ARE $67,000.(12/21/2006 - 11/14/2008) Damage Amount Requested: $67,000.00 Broker Comment: THE INVESTMENTS WERE CONSISTENT WITH THE CUSTOMER'S RISK TOLERANCE AND ACCOUNT OBJECTIVES. THE LOSSES IN THE ACCOUNT CAN BE ATTRIBUTED TO THE RECENT MARKET VOLATILITY. THE CUSTOMER HAD ALSO PURCHASED SIMILAR INVESTMENTS IN THE PAST. THE COMPLAINT IS DENIED.
Date: August 23, 2000 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT THE FA FAILED TO FOLLOW HIS INSTRUCTIONS ON 5/11/00 TO LIQUIDATE HIS ACCOUNT, AND DID NOT DO SO UNTIL 5/3/00, RESULTING IN A LOSS IN EXCESS OF $12,000. Damage Amount Requested: $12,000.00 Broker Comment: CLAIM DENIED. THE FA PROCESSED THE REQUEST THROUGH OUTSIDE MONEY MANAGER IN A TIMELY FASHION, AND DENIES THAT THE CLIENT REQUESTED LIQUIDATION ON THAT DAY. CLIENT INDIDCATED HE WANTED ACCOUNT LIQUIDATED "AS SOON AS POSSIBLE."
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