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James Arness of Wells Fargo Clearing Services Has 6 Customer Complaints For Alleged Broker Misconduct

Who is James Arness of Wells Fargo Clearing Services?

James Arness (CRD #2315624) who is currently registered with Wells Fargo Clearing Services and located in Saint Louis Park, Minnesota is a subject of one of our many securities industry sales practice abuse investigations.

James Arness Customer Complaints

James Arness has been the subject of 6 customer complaints that we know about, one of those complaints was filed in the last year to recover investment losses. Three of James Arness’ 6 customer complaints were settled in favor of investors. Three of James Arness’ customers’ complaints were denied and, to date, the customers had not taken any further action.

Allegations Against James Arness

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

  • Client alleged that James Arness’ unsuitable recommendation caused significant market loss.
  • Client alleged that James Arness’ recommended positions were too risky and that his account was not diversified.
  • Client alleged James Arness made unauthorized trades in his account.
  • Client complains that James Arness allegedly erroneously advised her that she would achieve a higher rate of income if she delayed turning on an income rider.
  • Customer alleged that James Arness’ recommendation was inappropriate and he should have been more aware of issuer-specific risks.  Customer further alleged that the security held a rating which was inconsistent with his investment objectives.
  • Customer’s daughter writes on behalf of her parents stating that they were sold a Barrier CD allegedly by James Arness and at no time did they understand the product nor should he have sold the investment.

James Arness Red Flags & Your Rights As An Investor

Of course, James Arness 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 James Arness at Wells Fargo Clearing Services on alert to review carefully the activity and performance of their accounts and question whether James Arness has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Wells Fargo Clearing Services also raises questions about the brokerage firms’ 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 Due To James Arness

If you have questions about Wells Fargo Clearing Services and/or James Arness 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 of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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