Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Sanjay Mathur (also known as Sanjay Mather) [CRD: 1144243, Irvine, California]. Mathur has over 41 years of experience in the financial industry, working for nine different firms during his career.
Notably, Mathur’s employment history includes his current registration as financial advisor / securities broker with RBC Capital Markets, LLC since March 20, 2024. Prior to this, he worked at Wells Fargo Clearing Services, LLC from April 2012 to March 2024. Recent disclosures raise concerns over client complaints, settlements, and a termination after allegations.
On November 6, 2024, a client of Wells Fargo Advisors filed an arbitration claim alleging that Mathur recommended unsuitable investments in a high-risk foreign security between October 15, 2015, and March 20, 2024. The client claimed the recommendations were inappropriate given their age and retirement timeline.
Evidently, on September 9, 2019, a client’s attorney alleged that Mathur failed to perform a suitability inquiry before recommending a security and did not disclose his financial interest in the investment. These allegations, related to the period from July 23, 2015, to September 9, 2019, are denied.
September 29, 2016 (Wells Fargo Advisors): A client alleged unsuitable recommendations for accounts opened in 2012. Wells Fargo Advisors resolved the claim on June 12, 2017, by paying $30,000. Mathur did not contribute to the settlement and stated that all trades were made with the client’s knowledge.
November 11, 2015 (Wells Fargo Advisors): A client alleged excessive trading and fees between April 30, 2012, and November 11, 2015. On August 1, 2016, the firm settled the claim for $45,000 without admitting liability.
Looking for more information about Sanjay Mathur? If so, reach out to Soreide Law Group online (contact us here) or at (888) 760-6552 to speak with a securities attorney. The team at Soreide Law Group works on a contingency basis, advances costs as needed, and assists investors across the country with recovering losses from sales practice misconduct. However, Mathur and the firms he worked for deny accusations of sales practice violations.
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