laims Against Wells Fargo’s Scott Hilton, Ricardo Guimaraes, Jason Pokorny
Soreide Law Group is investigating possible claims of unsuitability against Wells Fargo Clearing Services, LLC brokers Scott Hilton, Ricardo Guimaraes and Jason Pokorny. Wells Fargo Clearing Services, LLC is a brokerage firm regulated by the Financial Industry Regulatory Authority (“FINRA”) and investment adviser firm regulated by the Securities and Exchange Commission (“SEC”). Critically, FINRA BrokerCheck shows that Wells Fargo has a jaw-dropping 449 disclosures concerning its alleged regulatory infractions and sales practice violations. Not only that, but the firm has faced hundreds of additional customer-initiated, investment-related disputes relating to allegations against Wells Fargo brokers of sales practice violations. Many of the disputes, such as those detailed below, allege that Wells Fargo or its brokers placed customers in bad or unsuitable investments.
April 10, 2018 Arbitration About Scott Hilton
Scott Andrew Hilton (CRD#: 2367746, Tallahassee, Florida) is a broker of Wells Fargo. He has been working for Wells Fargo since October 1, 2000. Principally, a customer of Scott Hilton’s complained about his sales practices from 2007 to 2016. Specifically, Scott Hilton disclosed on his FINRA BrokerCheck Report that a customer filed FINRA Arbitration #18-01274 on April 10, 2018. First, the customer claimed that beginning in 2007, Scott Hilton implemented a bad investment strategy with the customer’s funds.
Apparently, this strategy caused the customer to suffer investment losses. Second, the customer claimed that Scott Hilton made unreasonable recommendations for the customer regarding IRS Rule 72(t) Distributions. Third, the customer stated that changes were made to the customer’s distributions without the customer’s permission. As a result, on October 30, 2018, Wells Fargo opted to settle the customer’s claim for $25,000.00. Scott Hilton is located at the firm’s Tallahassee, Florida, as well as Madison, Florida and Perry, Florida locations.
August 31, 2017 Arbitration Concerning Ricardo Guimaraes
Ricardo Fontana Guimaraes (CRD#: 5442981, Miami, Florida) is a financial advisor at Wells Fargo Clearing Services. The FINRA BrokerCheck Report for Ricardo Guimaraes indicates that a customer complained about his sales practices. Specifically, a FINRA Arbitration #17-02275 was filed by a Wells Fargo customer on August 31, 2017. Mainly, the customer stated that Ricardo Guimaraes purchased unsuitable Regulatory S investments for the customer’s account. Ricardo Guimaraes allegedly sold the customer unreasonable investments, causing the customer to suffer losses. Given the allegations of unsuitability, on October 1, 2018, Wells Fargo agreed to pay the customer $81,250.00 to settle this matter. Ricardo Guimaraes has been a Wells Fargo broker since October 13, 2015. Formerly, he was a UBS Financial Services broker in Miami, Florida (2010 to 2015).
July 16, 2018 Arbitration Concerning Jason Pokorny
Jason Robert Pokorny (CRD#: 2521060, Mequon, Wisconsin) is a Wells Fargo financial advisor. Apparently, Jason Pokorny disclosed that a Wells Fargo customer disputed his sales practices. The customer brought a FINRA Arbitration #18-02501 on July 16, 2018, naming Jason Pokorny as a respondent. Specifically, Jason Pokorny allegedly advised the customer to buy exchange traded funds that were not reasonable or appropriate for the customer’s needs. Additionally, the customer stated that Jason Pokorny failed to inform the customer about the risks of investing in exchange traded funds. Records show that Jason Pokorny’s alleged sales practice violations took place between June 25, 2013 and November 1, 2016. Because of this, the customer requested damages of $2,000,000.00 to resolve the issue. This FINRA Arbitration is pending.
If you have experienced losses by investing with Wells Fargo Clearing Services brokers including Scott Hilton, Ricardo Guimaraes and Jason Pokorny, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Our firm has recovered millions of dollars for investors who have suffered losses due to broker and brokerage firm misconduct. We represent clients on a contingency fee basis and advance all costs.