Forrest Wester Barred By FINRA, Involved In Wells Fargo Client Disputes

Some investors have potentially experienced damages because of securities broker Forrest Addington Wester (also known as Forrest Wester) [CRD: 2559502, Midland, Texas], according to regulatory sanctions and investor disputes disclosed on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Wester was previously registered as a financial advisor and securities broker, with his last registration at Wells Fargo Clearing Services LLC, from January 1, 2008, to November 30, 2023. Read on to learn more about the disclosures concerning Wester.

Wester Barred For Refusal To Cooperate In Investigation

Notably, on November 30, 2023, the Financial Industry Regulatory Authority (FINRA) issued Letter of Acceptance, Waiver, and Consent No. 2023080036201, sanctioning Forrest Wester for noncompliance with its investigative requests. Wester faced allegations regarding potential misappropriation of client funds while affiliated with Wells Fargo Clearing Services LLC in Midland, Texas. The regulator probed him about these allegations, but he refused to cooperate. Evidently, Wester consented to the sanctions without admitting or denying FINRA’s findings. Consequently, Wester received a permanent bar from association with any FINRA member in any capacity, effective from November 30, 2023.

Wells Fargo Advisors LLC Client's Allegations Against Forrest Wester

Also, Forrest Wester faced allegations from a client, according to an investment dispute. Particularly, the client accused Wester of stealing money from her account, an allegation that prompted an internal review by Wells Fargo Advisors LLC. The complaint, received on November 12, 2023, led to a settlement on December 19, 2023, with the firm agreeing to compensate the client $55,089.99 for the alleged harm. It's important to note that the settlement was reached without an admission of guilt or fault by Wester.

Allegations Of Unauthorized Trading By Wester

BrokerCheck also shows a client complaint about Forrest Wester during his tenure at Wachovia Securities LLC. The complaint, filed on September 30, 2008, revolved around allegations of unauthorized trading. However, this complaint did not result in any financial restitution or formal action, as it was closed with no action on January 22, 2009. Evidently, Wester denied the allegations.

Seek Legal Guidance If Affected By Forrest Wester's Actions

Did you experience damages because of securities broker / financial advisor Forrest Wester? If so, reach out to Soreide Law Group online or at (888) 760-6552 to discuss the potential recovery. Soreide Law Group, serving investors across the United States, operates on a contingency fee basis and advances all