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Michael Piccolo Of Wells Fargo Clearing Services, LLC And Formerly With Morgan Stanley Has 4 Customer Complaints For Alleged Broker Misconduct

Who is Michael Piccolo of Wells Fargo Clearing Services, LLC?

Michael Piccolo (CRD #2614880) who is currently registered with Wells Fargo Clearing Services, LLC and located in Paramus, New Jersey is a subject of one of our many securities industry sales practice abuse investigations. Prior to Wells Fargo Clearing Services, LLC, Michael Piccolo was associated with Morgan Stanley and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Michael Piccolo Customer Complaints

Michael Piccolo has been the subject of 4 customer complaints that we know about. Three of Michael Piccolo’s 4 customers’ complaints were denied and, to date, the customers have not taken any further action. There is currently one pending customer complaint filed against Morgan Stanley for investment losses caused by Michael Piccolo’s alleged misconduct.

Allegations Against Michael Piccolo

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

  • Claimant alleged, inter alia, Michael Piccolo’s breach of fiduciary duties with respect to management of account.
  • Client alleged Michael Piccolo’s unauthorized trading, inter alia, with respect to investments.
  • New York client claimed that Michael Piccolo allegedly misrepresented the amount of the account fees and commissions, sales loads, etc. that he would be charged for transactions and the maintenance of his accounts. The client further claimed that he told the Michael Piccolo that he was a conservative investor. The client claimed that the Michael Piccolo recommended that he purchase preferred stocks for his IRA account and his Roth IRA account and that based on the Michael Piccolo’s recommendation he invested an aggregate amount of $46,000 in preferred stocks which were all in the financial sector.

Michael Piccolo Red Flags & Your Rights As An Investor

Of course, Michael Piccolo 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 Michael Piccolo at Wells Fargo Clearing Services, LLC and Morgan Stanley on alert to review carefully the activity and performance of their accounts and question whether Michael Piccolo 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 Morgan Stanley 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, LLC Due To Michael Piccolo

If you have questions about Wells Fargo Clearing Services, LLC, Morgan Stanley, and/or Michael Piccolo 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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