Johnathan Hagood Received FINRA Bar Following Client Dispute

Investors might have sustained losses due to securities broker Johnathan Paul Hagood [CRD: 6778355, Los Angeles, California], according to disclosures on the Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Hagood worked for Wells Fargo Clearing Services LLC from September 14, 2017, to January 18, 2023. Continue reading to learn more about Hagood's disclosures and the allegations made against him.

Regulatory Sanction Against Hagood

On October 3, 2023, FINRA sanctioned Johnathan Hagood for not responding to requests for information. Notably, Hagood was barred permanently.

Under FINRA's rules, specifically Rule 9552(h), the regulator sent a notice of suspension letter on October 3, 2023. The regulator then sent a suspension from association letter on October 30, 2023. Because Hagood did not request the termination of his suspension within three months from the notice, he was automatically barred from association with any FINRA member in all capacities starting January 8, 2024.

Client Alleged Unsuitable Trading By Johnathan Hagood At Wells Fargo Clearing Services LLC

Johnathan Hagood faced allegations by a Wells Fargo Clearing Services LLC client, claiming that starting in 2021, Hagood made unsuitable trades without the client's authorization. FINRA Arbitration No. 22-01906. Wells Fargo Clearing Services LLC decided to settle the dispute on March 10, 2023, by paying the client $87,500. However, the firm did not admit fault.

Wells Fargo’s Termination Of Securities Broker

Specifically, on January 18, 2023, Wells Fargo Clearing Services LLC disaffiliated with Johnathan Hagood. Evidently, Wells Fargo Clearing Services LLC alleged that Hagood communicated with an investor by text message, did not confirm certain trades in the same investor's account before executing trades, and sent the same individual compensation to avoid a complaint.

Did You Sustain Losses Because Of Johnathan Hagood?

Did you experience losses due to Johnathan Hagood? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Hagood and Wells Fargo Clearing Services LLC deny accusations of sales practice violations.