The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Wesley Clinton. According to his publicly available FINRA BrokerCheck report, Wesley Clinton has been the subject of multiple customer disputes over the course of his career.
Wesley Clinton is a New York-based securities broker. He has worked in the securities industry for sixteen years. During his career, he has been registered with six different securities firms.
His Registrations
- Gunnallen Financial (2003-2005)
- First Midwest Securities (2005-2008)
- A&F Financial Securities (2008-2010)
- QA3 Financial Corp. (2010)
- Obsidian Financial Group (2010-2012)
- Network 1 Financial Securities (2012-Present)
The Allegations
- In June 2015, a customer alleged that Wesley Clinton executed unsuitable securities transactions, breached contract, committed fraud, and churned their account. This case was settled for $30,000 in damages.
- In January 2017, a customer alleged that Wesley Clinton recommended unsuitable investments. This case was settled for $11,750 in damages.
- In August 2018, another customer alleged that Wesley Clinton recommended unsuitable investments. This case went to arbitration where the customer was awarded $169,354 in damages.
What Does This Mean?
Investors who hire securities brokers to manage their portfolios expect that it will be done properly. There would be no point to even hire a professional if said professional does not bring anything to the table. In order to do their jobs properly, securities brokers must be able to recommend investments to their customers that they (the customers) would actually be financially suited for. This suitability can be determined by analyzing financial information provided by the customer. This information includes; financial situation, age, net worth, investment objectives, risk tolerance, and liquidity needs. Brokers who are unable to determine suitability by looking at these factors are unable to perform their duties to the required standard of someone in their position.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Wesley Clinton, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.
