Complaints Filed Against Wells Fargo Brokers Joseph Esposito, Keith Keply Jr., Thomas Jackson

Wells Fargo Clearing Services (CRD#: 19616, St. Louis Missouri), which also does business as Wells Fargo Advisors, is a brokerage firm and investment adviser firm regulated by Securities and Exchange Commission (“SEC”), Financial Industry Regulatory Authority (“FINRA”) and state securities regulators. Apparently, Wells Fargo disclosed 450 instances in which either regulators or customers leveled accusations against the firm for engaging in securities industry violations. Additionally, Wells Fargo brokers have reported instances involving customers filing claims about sales practice violations. For example, take a look at customer disputes involving brokers’ Joseph Esposito, Keith Keply Jr. and Thomas Jackson:

 

Wells Fargo Customer Files June 30, 2017 Arbitration Involving Joseph John Esposito

 
Joseph John Esposito (CRD#: 860964, Scranton, Pennsylvania) is a past general securities representative and supervisor at Wells Fargo. Apparently, Joseph Esposito’s FINRA BrokerCheck profile shows that a customer disputed his sales practices. Specifically, in FINRA Arbitration #17-01699, which the customer filed June 30, 2017, the customer alleged unsuitability and excessive trading by Joseph Esposito or someone he supervised. Allegedly, from 2008 to 2016, Joseph Esposito or his subordinate broker made excessive trades in the customer’s account. The customer additionally claimed that the broker made bad investment recommendations about municipal debt investments. Supposedly, the customer sustained losses because of the excessive trading and unsuitable investments. Because of this, Wells Fargo made arrangements to pay the customer $125,000. Accordingly, this matter settled on March 26, 2018. Wells Fargo Advisors, LLC disaffiliated with Joseph Esposito on August 9, 2016. He now works at Raymond James Financial Services Inc. (Clarks Summit, Pennsylvania).

August 21, 2018 Arbitration Involving Keith Kepley Jr.

Keith Gregory Kepley Jr. (CRD#: 1816494, Charlotte, North Carolina) is a registered representative associated with Wells Fargo Clearing Services. Principally, Keith Kepley Jr. reported that a customer of Wells Fargo filed FINRA Arbitration #18-02858 on August 21, 2018. That matter apparently concerned alleged sales practice violations by Keith Kepley Jr. or an advisor Keith Kepley Jr. supervised. Particularly, the financial advisor Keith Kepley Jr. supervised allegedly informed the customer that the customer’s convertible preferred stock was not worth anything.
The advisor also allegedly encouraged the customer to maintain the preferred stock shares. However, those preferred stock shares converted to warrants and common stock. Critically, according to the customer, the advisor caused the customer harm by neglecting to advise him that he received a rights offering pertaining to in-the-money exercisable shares. Apparently, the advisor omitted this information after the transfer agent of the issuer informed the firm on June 6, 2016 about the customer’s rights offering. As a result, the customer alleged $150,000.00 in damages in this pending matter.

Wells Fargo Customer Brings April 16, 2018 FINRA Arbitration Involving Thomas Jackson

Thomas Harmon Jackson (CRD#: 2244151, Ridgeland, Mississippi) is a Wells Fargo Clearing Services general securities representative. Apparently, Thomas Jackson has been employed at the firm’s Ridgeland, Mississippi offices since January 1, 2008. Notably, Thomas Jackson disclosed on his FINRA BrokerCheck Report that a customer took issue with his mutual fund trades. Specifically, the customer filed FINRA Arbitration #18-01387 on April 16, 2018, claiming misrepresentation and unsuitability. Allegedly, Thomas Jackson made misrepresentations about mutual fund investments that the customer purchased. Additionally, Thomas Jackson purportedly made mutual fund purchases that were unsuitable for the Wells Fargo customer. As a result, the customer demanded $250,000.00 in damages in this pending matter.

Have you experienced losses by investing with Wells Fargo brokers Joseph john Esposito, Keith Keply Jr. or Thomas Jackson? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.