Wes Steed Discharged By Wells Fargo Clearing Services Over Unauthorized Trading Concerns

Investors may have suffered losses involving securities broker Wesley Andrew Steed, also known as Wes Steed (CRD: 2816275), of Staten Island, New York, according to disclosures on the Financial Industry Regulatory Authority (FINRA) BrokerCheck database. Steed worked for Wells Fargo Advisors and Wells Fargo Clearing Services from April 18, 2008, to June 18, 2026. He has been registered with Chelsea Financial Services since July 16, 2026, and with Chelsea Advisory Services Inc. since July 22, 2026. Here is a closer look at the client complaints and Wells Fargo’s allegations.

Wells Fargo Discharged Steed Over Concerns About Unauthorized Trading, Client Complaints, And Unapproved Communications

On May 20, 2026, Wells Fargo Clearing Services LLC discharged Steed. The firm said the decision followed a review of concerns about unauthorized discretion, failure to report a client complaint on time, and business communications outside its approved platforms.

Wells Fargo Client Alleged Wes Steed Failed To Follow Instructions

A Wells Fargo Advisors LLC client complained that Steed failed to follow instructions for securities purchases from October 1, 2025, through February 24, 2026. The client claimed losses involving exchange-traded funds. The complaint settled on March 10, 2026, for $16,722.02. Steed contibuteed nothing toward the settlement.

Merrill Lynch Investor Accused Wesley Steed Of Misrepresentation

On August 18, 2009, a Merrill Lynch client filed a complaint about Wesley Steed. The client alleged misrepresentation involving variable annuities, resulting in damages. On January 28, 2010, Merrill Lynch denied the complaint after arguing that the client’s allegations lacked merit.

Questions About Investment Losses Involving Wesley Steed?

Investors who believe they lost money because of Wesley Steed can contact Soreide Law Group online or call (888) 760-6552. The firm has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Steed and the brokerage firms he worked for deny allegations of sales practice violations.