Investors are alleging investment losses because of the securities business of Jeff Eiler [CRD#: 1028716, Fort Lauderdale, Florida]. Supposedly, the securities broker, who joined Wells Fargo on February 17, 2006, discloses 12 investor disputes reported on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck. Notably, Wells Fargo clients indicate that Eiler made inappropriate trades which caused his clients to experience losses. For more details in reference to the allegations against Eiler, see below.
Wells Fargo Investor Indicates That Jeff Eiler Made Unsuitable Trades
Notably, a client of Wells Fargo contested Jeff Eiler through bringing FINRA Arbitration #: 18-03142 on October 10, 2018. Mainly, Eiler caused the client to assume a lot of risk when he overconcentrated the client’s account in bond funds. His transactions were purportedly unreasonable as they did not reflect the client’s investment profile. As a result, Wells Fargo resolved the matter on July 18, 2019 through paying the client a total of $135,000.
Eiler Allegedly Overconcentrated Wells Fargo Client’s Account
Apparently, on May 10, 2017, a second Wells Fargo client filed FINRA Arbitration #: 17-01165 concerning Jeff Eiler. Mainly, the client indicated that Eiler made inappropriate trades in the client’s account because of the client’s risk tolerance. Supposedly, he caused an overconcentration in the client’s account which led the client to experience losses on common or preferred stocks. Therefore, Wells Fargo paid the client $80,000.00 to resolve the matter.
Wells Fargo Pays Investor Who Suggested That Jeff Eiler Gave Bad Advice
Evidently, a third client of Wells Fargo contested Jeff Eiler’s securities recommendations or sales through bringing a complaint dated February 28, 2017. Allegedly, Eiler recommended unreasonable investments or transactions. Supposedly, these investments conflicted with the client’s investment profile. As a result, Wells Fargo agreed to resolve the matter on March 28, 2017 through paying the client a total of $20,000.
Losses From Eiler?
Have you experienced losses by investing with Jeff Eiler? 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. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers like Eiler and brokerage firms.