| Read Time: 2 minutes | LPL Financial Complaints | Prospera Financial Complaints |


Wesley Justin Foltz formerly with Prospera Financial Services Has 2 Customer Complaints for Alleged Broker Misconduct

Who is Wesley J. Foltz formerly with Prospera Financial Services?

Wesley Foltz (CRD #4617507) who was formerly registered with Prospera Financial Services and located in Alexandria, Louisiana is a subject of one of our many securities industry sales practice abuse investigations.

Prior to Prospera Financial Services, Wesley Foltz was associated with LPL Financial and 1 other investment advisory and brokerage firm with a history of customer complaints and securities industry regulatory problems.

Wesley Foltz has had his own regulatory problems. In October 2018, without admitting or denying the allegations, Wesley Foltz consented to sanctions and entry of findings by FINRA that he recommended certain L-share variable annuities without any reasonable basis for believing the recommendations were suitable. As a result, he was suspended by FINRA for 30 days and fined.

Wesley J. Foltz Customer Complaints

In his/her career, Wesley Foltz has been the subject of 2 customer complaints that we know about, one of those complaints was filed in the last two years to recover investment losses.

One of the customer’s complaints was denied and the customers did not take any further action. There is currently one pending customer complaint filed against LPL Financial for investment losses caused by Wesley Foltz’s alleged misconduct.

Allegations Against Wesley Foltz

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

  • The customer alleged that Wesley Foltz’s recommendation of REIT investment in December 2008 was unsuitable and seeks recovery of investment losses, which he estimates to be $40,000 to $50,000.
  • The customer alleges that Wesley Foltz purchased REITs for his account that were unsuitable.

Wesley Foltz Red Flags & Your Rights as An Investor

Of course, Wesley Foltz 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 that should put all current and former customers of Wesley Foltz at Prospera Financial Services on alert to review carefully the activity and performance of their accounts and question whether Wesley Foltz has engaged in any stockbroker misconduct that may have caused them investment losses.

There have been a large number of customer complaints at Prospera Financial Services which also raises questions about its 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 Prospera Financial Services

If you have questions about Prospera Financial Services and/or Wesley Foltz 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.

Author Photo

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.

Rate this Post

1 Star2 Stars3 Stars4 Stars5 Stars