Investors might have sustained losses because of securities broker Matthew Kenneth Wilkes [CRD: 5409004, Knoxville, Tennessee], according to disclosures on FINRA BrokerCheck. Evidently, Wilkes worked for TrustFirst in Knoxville, TN, from April 4, 2019, to October 30, 2023, FSIC in Chicago, IL, from June 21, 2017, to September 12, 2018, and Raymond James Financial Services Inc. in Chicago, IL, from July 31, 2015, to June 22, 2017. Prior to that, he worked for Wells Fargo. Keep reading to learn more about Wilkes's disclosures.
Specifically, on February 9, 2024, a Wells Fargo client filed FINRA Arbitration: 24-00307 about Matthew Wilkes. Supposedly, Wilkes recommended an unsuitable premium-financed life insurance policy and failed to properly explain its risks, and then later made an unsuitable recommendation to change the insurance provider. Because of this, the investor apparently incurred damages. Therefore, the client requested $2,680,220.14 in compensation from Wells Fargo or Wilkes. Evidently, this arbitration is pending a resolution.
Particularly, a client of Raymond James Financial Services Inc. contested Matthew Wilkes’s sales practices by filing FINRA Arbitration: 23-03617 on January 12, 2024. Allegedly, Wilkes recommended an unsuitable life insurance policy and omitted risks. It appears that Wilkes caused the client to sustain damages on life insurance products. As a result, the client seeks compensatory relief from Raymond James Financial Services Inc. or Wilkes in the amount of $4,171,885.12 in this ongoing matter.
Additionally, a client filed a complaint about Matthew Wilkes. Supposedly, Wilkes did not properly represent the change in investment platform from IFS to Private Advisor Network and how the change would impact the client financially. Because of this, the client allegedly sustained damages. For this reason, on September 22, 2015, Wells Fargo settled this matter by paying the client $25,378.11 in damages.
Did you experience losses because of Matthew Wilkes? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk to a securities lawyer about a possible recovery of your investment losses. Soreide Law Group has assisted hundreds of clients throughout the country, works on a contingency fee basis, and advances all costs. Wilkes and brokerage firms Wilkes worked for deny accusations of sales practice violations.
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