DID KENNETH ANDREWS WELSH CAUSE YOU INVESTMENT LOSSES?
Kenneth Welsh Of Wells Fargo Clearing Services, LLC Has 8 Customer Complaints For Alleged Broker Misconduct
Who is Kenneth Welsh of Wells Fargo Clearing Services, LLC?
Kenneth Welsh (CRD #4657872) who was formerly registered with Wells Fargo Clearing Services, LLC and located in Fairfield ,New Jersey, is a subject of one of our many securities industry sales practice abuse investigations. Prior to Wells Fargo Clearing Services, LLC, Kenneth Welsh was associated with other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems. Kenneth Welsh’s had his own share regulatory problems. In October 2021, the SEC filed a lawsuit against him for allegedly misappropriating $2.86 million by a fraudulent ACH transaction withdrawing money from clients’ accounts. The lawsuit is still pending. It appears that he was also terminated by Wells Fargo Clearing Services in connection with the alleged misconduct.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Kenneth Welsh Customer Complaints
Kenneth Welsh has been the subject of 8 customer complaints that we know about seeking to recover investment losses. Six of the customer complaints were settled by Wells Fargo Advisors in favor of the investors for Kenneth Welsh’s alleged did misconduct. One customer complaint was denied by Morgan Stanley recently and so far, the investor is not taking any further action. There is currently one customer complaints filed against Wells Fargo Clearing Services for Kenneth Welsh’s alleged misconduct that proceeded to a FINRA arbitration proceeding and still pending.
Allegations Against Kenneth Welsh
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Unsuitable investment recommendations to customer to purchase Unit Investment Trusts and Exchange Traded Funds to maximize his compensation.
- Misappropriation of funds from customer’s account at Morgan Stanley on 2 occasions.
- Multiple Wells Fargo customers alleged theft of funds from their accounts via alteration of checks, and other transfers from customers’ accounts.
- Unsuitable recommendation of 8 equity indexed annuity contracts.
- Failure to execute a customer’s order.
- Advisor opened a margin account without permission and wrote checks on customer’s account without permission as well.
Kenneth Welsh Red Flags & Your Rights As An Investor
Of course, Kenneth Welsh 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 Kenneth Welsh at Wells Fargo Clearing Services, LLC on alert to review carefully the activity and performance of their accounts and question whether Kenneth Welsh 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 Kenneth Welsh
If you have questions about Wells Fargo Clearing Services, LLC and/or Kenneth Welsh 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.
Rate this Post
Loading...