Investors Complain About Louis Wargo

Soreide Law Group is investigating possible investor claims against Louis Wargo (CRD: 1416101, Brecksville, Ohio). Specifically, Financial Industry Regulatory Authority (FINRA) BrokerCheck discloses that investors disputed the sales practices of the securities broker, who worked for FSC Securities Corporation. Evidently, one or more investors alleged misconduct in these disputes, including that Wargo made unsuitable recommendations, was negligent, overconcentrated accounts, breached a fiduciary duty, breached a contract, made misrepresentations, and made omissions. Here is a brief summary of the disclosures about Wargo.

Wargo Disclosed Unsuitable Advice Allegations By FSC Securities Corporation Client

Particularly, a client of FSC Securities Corporation contested Louis Wargo’s sales practices by filing FINRA Arbitration: 21-00089. Allegedly, Wargo provided unsuitable advice, was negligent, overconcentrated accounts, breached a fiduciary duty, breached a contract, made misrepresentations, and made omissions. It appears that Wargo caused the client to sustain damages on BDC (business development company) products. Therefore, FSC Securities Corporation opted to settle the matter on December 20, 2021, by compensating the client in the amount of $19,000.

FSC Securities Corporation Investor Accused Louis Wargo Of Overconcentration

Also, an FSC Securities Corporation client filed FINRA Arbitration: 20-03348 about Louis Wargo. Namely, the client alleged that Wargo overconcentrated accounts. Because of this, the client allegedly sustained damages on alternative investments. Therefore, on November 16, 2021, FSC Securities Corporation settled this matter by paying the client $45,000 in damages.

Wargo Disclosed Unsuitable Advice Allegations By FSC Securities Corporation Client

Specifically, a client of FSC Securities Corporation contested Louis Wargo’s sales practices, according to a complaint dated July 17, 2020. Allegedly, Wargo made unsuitable recommendations. Supposedly, Wargo caused the client to sustain damages on BDC (business development company) products. Therefore, the client sought compensatory relief from FSC Securities Corporation or Wargo in the amount of $22,000 in this matter. However, the securities firm denied this complaint.

AXA Advisors Investor Accused Louis Wargo Of Mismanagement

Also, on December 20, 2004, an AXA Advisors client filed a complaint about Louis Wargo. Namely, the client alleged that Wargo mismanaged investment accounts and made omissions. Because of this, the client allegedly sustained damages on variable annuities. Therefore, the client requested compensation from AXA Advisors or Wargo. However, the securities firm denied this complaint.

Employment Information

Wargo joined FSC Securities Corporation as a securities broker and financial advisor in February 2003.

Did FSC Securities Corporation Securities Broker Louis Wargo Cause You To Experience Damages?

Did you suffer damages because of broker Louis Wargo? If so, contact Soreide Law Group at (888) 760-6552 and talk with a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group, who has helped recover money for hundreds of investors in all 50 states, represents clients on a contingency fee basis and advances all costs. Wargo and brokerage firms Wargo worked for deny all allegations of sales practice violations.