DID THOMAS MAREK BILLINGTON CAUSE YOU INVESTMENT LOSSES?
Thomas Billington Of Wells Fargo Clearing Services, LLC Has 2 Customer Complaints For Alleged Broker Misconduct
About Thomas Billington of Wells Fargo Clearing Services, LLC?
Thomas Billington (CRD #5352766) has been with Wells Fargo Clearing Services since 2011 and is registered with six self-regulatory organizations (SROs) and 25 U.S. states/territories. He has passed three general industry/product exams (Series 6, Series 7, and the Securities Industry Essentials) and two state securities law exams (Series 63 and Series 66). Prior to his current role, he worked for Fidelity Brokerage Services LLC and Fidelity Investments Institutional Services Company.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Thomas Billington Customer Complaints and Reviews
Total Incidents: 2 customer disputes (1 settled, 1 denied)
- Settled Dispute (Wells Fargo Advisors):
- Date: Complaint received on September 24, 2019
- Allegations: The client complained that Billington did not disclose a capital gains distribution that impacted the cost basis of a mutual fund investment, resulting in an increased realized loss.
- Settlement: $738.78
- Denied Dispute (Wells Fargo Advisors):
- Date: Complaint received on March 14, 2024
- Allegations: The customer claimed that Billington failed to mention no-fee accounts and that they paid fees with no benefit in a managed/wrap account.
- Outcome: Complaint was denied. Billington denies wrongdoing and maintains that the fee account was suitable and contributed to the client’s positive returns.
Allegations Against Thomas Billington
- Settled Dispute: Alleged failure to disclose a capital gains distribution impacting a mutual fund’s cost basis, leading to a realized loss.
- Denied Dispute: Alleged failure to mention no-fee accounts, resulting in unnecessary fees in a managed/wrap account.
Thomas Billington Red Flags & Your Rights As An Investor
Of course, Thomas Billington 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 Thomas Billington at Wells Fargo Clearing Services, LLC on alert to review carefully the activity and performance of their accounts and question whether Thomas Billington 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 also raises questions about the brokerage firm’s 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?
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 Wells Fargo Clearing Services, LLC Due To Thomas Billington
If you have questions about Wells Fargo Clearing Services, LLC and/or Thomas Billington 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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