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John Foery Of Wells Fargo Clearing Services Has 5 Customer Complaints For Alleged Broker Misconduct

Who is John Foery of Wells Fargo Clearing Services?

John Foery (CRD #2531983) who is currently registered with Wells Fargo Clearing Services and located in Charlotte, North Carolina is a subject of one of our many securities industry sales practice abuse investigations.

John Foery Customer Complaints

John Foery has been the subject of 5 customer complaints that we know about, one of those complaints was filed in the last year to recover investment losses. Two of John Foery’s 5 customer complaints were settled in favor of investors. Three of John Foery’s customers’ complaints were denied and, to date, the customers have not taken any further action.

Allegations Against John Foery

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

  • Clients complained that John Foery allegedly mismanaged and neglected their accounts.
  • A North Carolina resident allegedly gave instructions for John Foery to liquidate diversified managed allocations account (internally managed account). Client said she was not made aware that liquidation of managed account could take several days. Executions were done and client felt she suffered damages as the result of not having the trades done in a timely manner.
  • Client was allegedly persuaded by John Forey to open two Fundsource accounts and after disappointing recent performance, client requested, but did not receive a plan to reallocate his account.
  • North Carolina resident says she was not told of any liquidity risk when she purchased $75,000 Nuveen Auction Rate Preferreds allegedly on the recommendation of John Foery.
  • The client alleged that John Foery’s purchase of an equity was not made in accordance with her conservative investment objective.

John Foery Red Flags & Your Rights As An Investor

Of course, John Foery 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 John Foery at Wells Fargo Clearing Services on alert to review carefully the activity and performance of their accounts and question whether John Foery 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 John Foery

If you have questions about Wells Fargo Clearing Services and/or John Foery 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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