BRAD M JACOBSON Barred by FINRA

The Financial Industry Regulatory Authority (FINRA) barred BRAD MICHAEL JACOBSON (BRAD M JACOBSON), formerly with WELLS FARGO CLEARING SERVICES, LLC of Linwood, New Jersey on July 5, 2023. Jacobson was with Wells Fargo from 11/16/2011 - 04/25/2022.

Without admitting or denying FINRA’s findings, Jacobson consented to the sanction and to the entry of findings that he allegedly failed to provide information and documents requested by FINRA in connection with its investigation concerning his alleged conversion of a client's funds and his participation in an unapproved OBA (Outside Business Activity).

FINRA’s findings stated that this matter originated from FINRA's review of a Form U5 filed by BRAD M JACOBSON's member firm. In the Form U5, the firm reported that it terminated Jacobson because he allegedly engaged in an unapproved OBA and submitted a service request to obtain a debit card issued for himself drawn on a client's business account.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, BRAD M JACOBSON, was in the securities industry for 17 years and was listed with 3 firms.  Jacobson has 3 Disclosures on his FINRA CRD report. One is the “Regulatory” barring him from the industry, one is an “Employment Separation after Allegations,” from WELLS FARGO CLEARING SERVICES, LLC on April 6, 2022.  Jacobson was discharged following the allegations, “Registered representative was discharged after he: failed to receive approval prior to engaging in an Outside Business Activity (OBA); engaged in activities beyond the scope of what was approved as an OBA; and submitted a service request to obtain a debit card issued for himself drawn on a client's business account. This activity was not related to the securities business of Wells Fargo Clearing Services, LLC.”

The third disclosure is a “Customer Dispute” dated February 28, 2009.  The allegations were, “THE COMPLAINT AROSE OUT OF THE SALE OF AN AUCTION RATE SECURITY (ARS) THAT WAS MADE PRIOR TO THE WIDESPREAD ILLIQUIDITY IN THE ARS MARKET THAT OCCURRED IN FEBRUARY 2008.”  The settlement amount was $200,000.00.  Jacobson denies the allegations.

If you have experienced investment losses due to the actions or recommendations of the former broker from WELLS FARGO CLEARING SERVICES, LLC of Linwood, New Jersey, BRAD M JACOBSON, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group represents our clients nationally before FINRA on a contingency fee basis, no fee if no recovery.