WALLACE JOSEPH HOMMERDING is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 520 NEWPORT CENTER DR, STE 1700, NEWPORT BEACH, CA, 92660.
WALLACE JOSEPH HOMMERDING has worked at WELLS FARGO CLEARING SERVICES, LLC since July 01, 2003
Disclosure History
WALLACE JOSEPH HOMMERDING has 2 Disclosure Event(s).
Date: September 23, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES "THE REQUEST FOR A PLAN TO TAKE ACTION TO PRESERVE CAPITAL WAS IGNORED" WITH RESPECT TO HIS MANAGED ACCOUNT. DAMAGES ALLEGED OF $79,373.00. Damage Amount Requested: $79,373.00 Broker Comment: PRUDENTIAL SECURITIES INC. HAS DENIED CLAIM.
Date: February 26, 1992 Category: Customer Dispute Allegations: UNSUITABILITY - $20,000.00., ALLEGED DAMAGES$20,000.00. Damage Amount Requested: $20,000.00 Settlement Amount: $10,888.41 Broker Comment: CLIENT WAS PART OF A CLASS ACTION SUIT ON $5,000INVESTMENT WHICH HAD BEEN ALREADY SETTLED. FIRM RESCINDED$15,000 IN 2 INVESTMENTS LESS DISTRIBUTIONS ALREADY PAIDRESULTING IN TOTAL OF $10,888.41. SHEARSON LEHMAN BROTHERS INC.PAID TOTAL - $10,888.41 BROKER DID NOT CONTRIBUTE TOWARD THISSETTLEMENT.INITIALLY I RECOMMENDED A DIVERSIFIED PORTFOLIOOF VARIOUS FIXED INCOME INVESTMENTS. CLIENT WANTED TO INVESTADDITIONAL $20,000 AGRESSIVELY (20% OF HER STATED LIQUID NETWORTH) IN SUCH INVESTMENTS AS GOLD. I RECOMMENDED SPLITTING ITINTO 3 DIRECT INVESTMENTS WITH INCOME AND GROWTH AS OBJECTIVES.SHE AGREED AND UNDERSTOOD THAT THE INVESTMENT WOULD BE ILLIQUIDFOR 5 TO 7 YEARS. I BELIEVE ILL HEALTH PROMPTED HER DEMAND FORHER MONEY BACK. SETTLEMENT EFFECTED BECAUSE OF BUSINESSCONSIDERATIONS.
More Information
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 WALLACE JOSEPH HOMMERDING, click here.
The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.
×
Outdated Information
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 Removal
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.