On March 9, 2017, an investor won a $357,000 arbitration award against Wells Fargo Advisors for unsuitable energy and housing investments. The investor claimed; fraud, negligent misrepresentation, breach of fiduciary duty and negligent supervision, among other causes. The panel awarded the investor $357,000 in compensatory damages plus 8.75% interest from March 25, 2016, until March 2, 2017.
According to the award statement, Wells Fargo denied the allegations and sought to have the claim expunged from the record of advisor, JEFFREY RANDOLPH WILSON (JEFF RANDOLPH WILSON,JEFF WILSON) CRD#: 1161819, currently in the Wells Fargo Advisors’ Las Cruces, New Mexico office, (he was previously with Morgan Stanley, Las Cruces) who was not a part of the claim. Wilson has been with Wells Fargo since 2014, with three customer disputes on his BrokerCheck, two of which have been settled. According to FINRA’s BrokerCheck one of the disputes in May of 2016, settled for $250,000. This also involved allegations of unsuitable energy and other investments.
If you were a client of Jeffrey Randolph Wilson and/or Wells Fargo Advisors in Las Cruces, New Mexico, and you experienced losses due to their actions or recommendations, particularly in energy stocks, call Soreide Law Group for a no-cost consultation with a securities lawyer regarding the possible recovery of your investment losses at: 888-760-6552.
Soreide Law Group operates on a contingency fee basis and we represent our clients nationwide before FINRA.
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