Securities Broker Adam Summers Terminated By Stifel Nicolaus, Referenced In Investor Dispute

Soreide Law Group provides you with an update on securities broker Adam Petersen Summers (CRD#: 5587343, Frankfort, Illinois). It appears on Financial Industry Regulatory Authority (FINRA) BrokerCheck that Summers worked for securities firms Wells Fargo Clearing Services LLC (October 2010 to January 2021), Stifel Nicolaus Company (December 2020), and LaSalle St. Securities LLC (January 2021 to June 2021). Notably, Stifel Nicolaus Company and Wells Fargo Clearing Services disaffiliated with Summers as securities broker amid misconduct allegations. Not only that but a client filed a dispute alleging sales practice violations by Summers.

Stifel Nicolaus Company Terminates Adam Summers As Securities Broker

Evidently, Adam Summers worked for Stifel Nicolaus in December 2020. In fact, the securities firm disaffiliated with Summers based upon allegations that he did not disclose an arbitration.

Summers Voluntarily Resigns From Wells Fargo Clearing Services

Notably, in December 2020, Wells Fargo Clearing Services accepted Adam Summers’ resignation as a securities broker. Supposedly, Summers did not know at the time of his resignation that Wells Fargo Clearing Services internally investigated him. It seems that Wells Fargo investigated allegations of Summers being the beneficiary of a client’s insurance policy. Also, the firm investigated an arbitration claim containing allegations of Summers’ trading in an investor’s account held away from Wells Fargo.

Adam Summers’ Client Alleges Unsuitable Investments In E*TRADE Account

Moreover, an investor disputed Adam Summers’ sales practices. Notably, the December 2020 FINRA Arbitration Claim alleges that Summers made unsuitable recommendations. Allegedly, Summers made these recommendations for the client’s account at E*TRADE rather than Wells Fargo. For this reason, the client asked for compensation in this ongoing matter.

Losses By Investing Through Summers?

Securities broker Adam Summers denies allegations of sales practice violations. Have you experienced investment losses by interacting with this broker? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. In fact, Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered compensation for many US clients who have experienced losses from their securities brokers and financial advisors.Lars Soreide AVVO 2020 Top Lawyer