Wells Fargo, Dougherty Clients File Suitability Disputes Involving Broker Jeffrey Hill
Soreide Law Group is reviewing potential investor lawsuits to be brought against securities broker Jeffrey Alan Hill (CRD#: 2204945, Bemidji, Minnesota). Evidently, FINRA sanctioned Hill several times for misconduct. Not only that, but 8 investors disputed his sales practices. Let’s take a brief look at these disclosures and the allegations made against this securities broker.
FINRA Issues Sanctions To Broker Jeffrey Hill
It appears that FINRA suspended Jeffrey Hill in April 2020 for failure to comply with an Arbitration Award. Also, FINRA revoked Hill’s securities broker registration in March 2017 for failing to pay costs and fines amounting to $50,000.
Notably, the financial industry regulator sanctioned Hill in November 2016 to resolve allegations that he made unauthorized and unsuitable trades in elderly investor accounts. Specifically, FINRA alleged that the broker unreasonably recommended short term trades of municipal bonds and corporate bonds. Supposedly, Hill failed to contact some clients. Not only that, but the regulator stated that he traded against clients’ needs and objectives.
Client Of Wells Fargo Alleges Unsuitability In Dispute Against Hill
Notably, a client of Wells Fargo Advisors brought a complaint against Jeffrey Hill. Supposedly, Hill did not consider the client’s goals when making corporate debt trades. It appears that unsuitable bond trades caused the client to experience damages. For this reason, Wells Fargo chose to pay the client $23,839 to settle the matter.
Dougherty And Company Client Alleges Churning, Unauthorized Trading By Jeffrey Hill
It appears that a Dougherty client disputed Jeffrey Hill’s sales practices. In this August 2015 lawsuit, the client alleged churning and unauthorized trading by the securities broker. Not only that, but the client also contended that Hill breached a fiduciary duty. Hill supposedly made unsuitable bond trades. Dougherty resolved this matter through making a $1,000,000 payment to the client.
Did Hill Cause Your Investment Losses?
Evidently, Jeffrey Hill denies accusations of sales practice violations. Lost money by investing with this broker? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with skilled 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 sustained losses because of their securities brokers and financial advisors.