DID JOHN DAVID SAMELSON CAUSE YOU INVESTMENT LOSSES?
John Samelson Of Wells Fargo Clearing Services, LLC Has 6 Customer Complaints For Alleged Broker Misconduct
About John Samelson of Wells Fargo Clearing Services, LLC?
John Samelson (CRD #2984356) currently serves at Wells Fargo Advisors and Wells Fargo Clearing Services in New York, NY, maintaining this position since April 29, 2016. His career, which spans across multiple notable firms including Morgan Stanley and Banc of America Investment Services, is marked by a significant number of client disputes. Despite his extensive registration across 26 U.S. states and territories and passing 2 general industry/product exams along with 2 multi-state securities law exams, Samelson’s professional journey is tainted by allegations and settlements that question his integrity and competence as a financial advisor.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
John Samelson Customer Complaints and Reviews
- Customer Dispute (Settled)
- Date: April 1, 2020
- Allegations: Unauthorized trades in December 2019.
- Settlement Amount: $200,000
- Outcome: Settled to avoid further litigation, no individual contribution from Samelson, emphasizing a resolution potentially to maintain client relationships rather than an admission of wrongdoing.
- Customer Dispute (Pending)
- Date Noticed: April 2, 2024
- Allegations: In 2018, an unsuitable recommendation purportedly led to financial losses.
- Potential Damages: Over $100,000
- Current Status: Arbitration pending, highlighting ongoing legal concerns and the serious nature of the accusations against his advisory practices.
- Customer Dispute (Closed – No Action)
- Various Dates: From 2001 to 2020
- Allegations: Claims range from unsuitable investment recommendations to misrepresentations concerning the terms of variable annuities and the handling of mutual funds.
- Outcomes: Multiple disputes either denied or dismissed, reflecting either unfounded claims or effective defenses by Samelson.
Allegations Against John Samelson
- Allegations Against John Samelson
- Unauthorized Trading: Samelson was accused of making trades without client authorization, a serious breach of trust and professional duty.
- Unsuitable Investment Recommendations: He faces multiple allegations regarding the suitability of his investment recommendations, questioning his ability to align investments with client needs and risk profiles.
- Misrepresentation: There have been accusations that Samelson misrepresented investment products, potentially misleading clients about the risks or the nature of the investments.
These points underscore a career fraught with legal disputes and client dissatisfaction, painting a picture of a financial advisor whose practices have often come under scrutiny.
John Samelson Red Flags & Your Rights As An Investor
Of course, John Samelson 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 John Samelson at Wells Fargo Clearing Services, LLC on alert to review carefully the activity and performance of their accounts and question whether John Samelson 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 John Samelson
If you have questions about Wells Fargo Clearing Services, LLC and/or John Samelson 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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