Our firm is investigating Wells Fargo Clearing Services, LLC financial advisor Simon Ga Jeung Leung (CRD# 5795988) of Woodstock, Georgia for potential investment-related misconduct.
Financial Advisor’s Career History
According to his FINRA BrokerCheck report, Simon Ga Jeung Leung’s securities-industry registration history includes:
- Chase Investment Services Corp. (07/2010 – 10/2010) (Alpharetta, GA)
- Chase Investment Services Corp. (05/2012 – 10/2012) (Alpharetta, GA)
- J.P. Morgan Securities LLC (10/2012 – 11/2014) (Woodstock, GA)
- Wells Fargo Advisors, LLC (11/2014 – 11/2016) (Woodstock, GA)
- Wells Fargo Clearing Services, LLC (11/2016 – Present) (Woodstock, GA)
His reported employment history also reflects Wells Fargo Bank, N.A. (11/2014 – Present) (Woodstock, GA).
Simon Ga Jeung Leung Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck reflects two customer complaints asserting the investments were not in the customers’ best interests, along with two outstanding tax liens.
Customer Complaint (Structured Product) — Denied
BrokerCheck reflects a customer complaint received November 1, 2024, reporting that while at Wells Fargo Advisors, LLC, the client complained that investments were not in their best interest and requested they be unwound as soon as possible, involving an “Other: Structured Product” over the period 08/29/2024 – 11/01/2024. The report reflects alleged damages: $0.00, with an explanation that the firm could not make a good faith determination that damages related to the transactions would be less than $5,000. The complaint was denied with a status date of January 7, 2025.
Customer Complaint (Variable Annuity) — Denied
BrokerCheck also reflects a customer complaint received February 15, 2024, reporting that while at Wells Fargo Advisors, LLC, the customer complained that the financial advisor recommended purchasing an investment that was not in the customer’s best interest due to the risk of loss and surrender penalty, involving a variable annuity over the period 11/22/2023 – 02/15/2024. The report reflects alleged damages: $0.00, with an explanation that the firm could not make a good faith determination that damages would be less than $5,000. The complaint was denied with a status date of March 27, 2024.
Disclosures at a Glance (as reflected on BrokerCheck)
- Customer Complaint (Structured Product) — Allegations of not-in-best-interest recommendation; request to unwind; Denied (Status date: 01/07/2025).
- Customer Complaint (Variable Annuity) — Allegations of not-in-best-interest recommendation due to risk of loss/surrender penalty; Denied (Status date: 03/27/2024).
- Tax Lien — State of Georgia Department of Revenue; $8,107.46; filed 03/05/2025; Outstanding.
- Tax Lien — State of Georgia Department of Revenue; $75,557.01; filed 03/05/2025; Outstanding.
To obtain a copy of Simon Ga Jeung Leung’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) is frequently implicated when investors allege that a recommendation was not in their best interest. In matters involving structured products and variable annuities, suitability analysis typically centers on whether the recommended strategy matched the investor’s profile (including risk tolerance and liquidity needs), and whether the advisor had a reasonable basis for believing the product’s features—such as downside risk, complexity, and (for annuities) surrender penalties—were appropriate for the customer.
FINRA Rule 3110 (Supervision) may be relevant where complaints raise questions about whether a firm’s supervisory system reasonably monitored the advisor’s sales practices—especially when the allegations involve products that can carry heightened risks, liquidity constraints, complex payoff structures, or material penalties for early liquidation. In customer disputes alleging “not in the client’s best interest,” firms are expected to maintain supervisory controls designed to detect and address red flags, including product concentration, mismatch between customer profile and product risk, and inadequate documentation.
FINRA Rule 4511 (Books and Records) can matter in best-interest and suitability disputes because the paper trail often determines what was recommended, what risks were disclosed, what alternatives were considered, and what approvals occurred. When a complaint involves a request to unwind positions or alleges the risks (including surrender penalties) were not adequately accounted for, recordkeeping surrounding account documentation, order tickets, disclosures, and supervisory reviews can become central to evaluating the conduct at issue.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
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