DID KEVIN JOSEPH SCHAEFER CAUSE YOU INVESTMENT LOSSES?

Kevin Joseph Schaefer with Wells Fargo Clearing Services, LLC And Formally with Merrill Lynch, Pierce, Fenner & Smith Incorporated Has 6 Customer Complaints for Alleged Broker Misconduct

Who is Kevin J. Schaefer Of Wells Fargo Clearing Services, LLC?

Kevin Schaefer (CRD #1286030) who is currently registered with Wells Fargo Clearing Services, LLC and located in San Francisco, California is a subject of one of our many securities industry sales practice abuse investigations.  

Prior to Wells Fargo Clearing Services, LLC, Kevin Schaefer was associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, and 12 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Merrill, Lynch, Fenner, & Smith Incorporated Broker Misconduct

In his career, Kevin Schaefer has been the subject of 6 customer complaints that we know about, 2 of those complaints were filed in the last year to recover investment losses.

Two of Kevin Schaefer’s 6 customer complaints were settled in favor of investors. There are currently 2 pending customer complaints filed against Kevin Schaefer’s current employer Wells Fargo Clearing Services, LLC for investment losses caused by his alleged misconduct.

Allegations Against Kevin Schaefer

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

  • The client alleged misconduct in connection with the auction rate security investments.
  • Claimants allege fraudulent and negligent misrepresentations and omissions, breach of fiduciary duty connection with the trading of the common stock known as Syntech.
  • The customer alleged misrepresentation and unsuitable investment recommendations relating to certain municipal bonds.
  • The claimant alleged unsuitable investment recommendations of alternative investments.
  • The claimant alleged unsuitable investment recommendations of private placements, fixed income securities, and structured products.
  • The claimant alleged misrepresentations connection with the investments in private placements and structured products.

Kevin Schaefer Red Flags & Your Rights as An Investor

Of course, Kevin Schaefer 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 Kevin Schaefer at Wells Fargo Clearing Services, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated on alert to review carefully the activity and performance of their accounts and question whether Kevin Schaefer as engaged in any stockbroker misconduct that may have caused them investment losses.

A large number of customer complaints recently at Merrill Lynch, Pierce, Fenner & Smith Incorporated about Kevin Schaefer also raises questions about 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 And Merrill Lynch, Pierce, Fenner & Smith

If you have questions about Wells Fargo Clearing Services, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and/or Kevin Schaefer 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.