Tacoma, WA
Have you lost money with financial advisor Gary Wells of Tacoma, Washington? We are investigating allegations made by the Washington Securities Division. Washington alleged that Gary Wells accepted over $600,000 in benefits as the beneficiary of a former client’s estate, without disclosing such to his former brokerage firm, Wells Fargo. Wells was also alleged to have recommended that another client switch from a commission-based account to a fee-based account, which “substantially” increased the fees charged to the client. Washington seeks to punish Wells for this conduct.
Gary Len Wells was a financial advisor and registered representative of Wells Fargo 2008 to January 2020. He has been affiliated with American Wealth Management from March 2020 to the present. He worked at branch offices in Tacoma, Washington. Wells was also terminated by Wells Fargo for this conduct
Brokerage firms like Wells Fargo have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Seattle, Washington; Vancouver, Washington; Denver, Colorado; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout the State of Washington and the Puget Sound. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Wells Fargo.