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Benjamin Marcano with Wells Fargo Clearing Services, LLC Has 2 Customer Complaints For Alleged Broker Misconduct In the Past 2 Years

Who is Benjamin Marcano with Wells Fargo Clearing Services, LLC?

Benjamin Marcano (CRD #2546731) who is currently registered with Wells Fargo Clearing Services, LLC and located in New York, New York is a subject of one of our many securities industry sales practice abuse investigations. Prior to Wells Fargo Clearing Services, LLC, Benjamin Marcano was associated with UBS Financial Services Inc. and 8 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Wells Fargo Clearing Services, LLC Broker Misconduct

In his career, Benjamin Marcano has been the subject of 2 customer complaints that we know about, both of those complaints were filed in the last 2 years to recover investment losses. One of Benjamin Marcano’s customer complaints was settled by Wells Fargo Clearing Services, LLC in favor of investors. The other complaint was recently denied, and to date, the customer is not taken any further action.

Allegations Against Benjamin Marcano

A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:

  • Customer alleges that the client’s retirement portfolio was invested in multiple unsuitable annuities by Benjamin Marcano and that it was never explained to disclose to the client the distinctions between annuity share classes or the expenses associated with the long-term riders selected. It was further alleged that the risks associated with investing in these expensive and illiquid investments as well as the terms, features, riders and charges associated with those products are not disclosed or explained.
  • Claimants allege multiple unsuitable investments and an overconcentration and variable annuities. Further, that Benjamin Marcano misrepresented facts and omitted to disclose excessive fees associated with those investment

Benjamin Marcano Red Flags & Your Rights As An Investor

Of course, Benjamin Marcano did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Benjamin Marcano at Wells Fargo Clearing Services, LLC and UBS Financial Services Inc. on alert to review carefully the activity and performance of their accounts and question whether Benjamin Marcano has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Wells Fargo Clearing Services, LLC and UBS Financial Services Inc. also raises questions about their supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Wells Fargo Clearing Services, LLC And UBS Financial Services, Inc.

If you have questions about Wells Fargo Clearing Services, LLC, UBS Financial Services, Inc. and/or Benjamin Marcano and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce has been a trial attorney for more than 40 years and is the founding partner of The Law Offices of Robert Wayne Pearce. You can learn more about Robert and his accomplishments by clicking here.

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