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Scott Reed Formerly With First Financial Equity Corporation and Wells Fargo Clearing Services, LLC Has 4 Customer Complaints For Alleged Broker Misconduct

Who is Scott Reed formerly with First Financial Equity Corporation?

Scott Reed

Scott Reed (CRD #3007033) who was formerly registered with First Financial Equity Corporation and located in Scottsdale, Arizona, is a subject of one of our many securities industry sales practice abuse investigations. Prior to First Financial Equity Corporation, Scott Reed was associated with Wells Fargo Clearing Services, LLC and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems. Scott Reed has had his own regulatory problems. In 2021 Scott Reed consented to the sanction to the entry of findings that he participated in private securities transactions totaling at least $3.5 million without providing prior written notice to or obtaining advanced approval from his member firm. He was then permanently barred from any further association with any member firm in any capacity

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Scott Reed Customer Complaints

Scott Reed has been the subject of 4 customer complaints that we know about to recover investment losses. Two of the customer complaints were settled by Scott Reed’s former employers in favor of the investors. The other 2 complaints were denied and, to date, the customers have not filed any arbitration proceedings.

Allegations Against Scott Reed

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

  • Recommendation of an investment opportunity in a company not offered by Wells Fargo Advisors was inappropriate.
  • Poor recommendations.
  • Unsuitable investment recommendations.
  • Failure to diversify customer’s retirement portfolio.
  • Recommendation the client invest over $2 million of unapproved outside investments which adviser received hundreds of thousands of dollars in undisclosed commissions.

Scott Reed Red Flags & Your Rights As An Investor

Of course, Scott Reed 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 Scott Reed at First Financial Equity Corporation and Wells Fargo Clearing Services, LLC on alert to review carefully the activity and performance of their accounts and question whether Scott Reed has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at First Financial Equity Corporation and Wells Fargo Clearing Services, LLC 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.

Did You Lose Money Because of Broker Misconduct?

best investment fraud lawyers

If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.

Need Legal Help? Let’s talk.

or, give us a ring at 561-338-0037.

File A Claim To Recover Your Investment Losses At First Financial Equity Corporation Due To Scott Reed

If you have questions about First Financial Equity Corporation, Wells Fargo Clearing Services, LLC and/or Scott Reed 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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