Erez Law is currently investigating former Wells Fargo Clearing Services, LLC broker Gerardo Castillo (CRD# 2886319) regarding unit investment trusts (UITs) losses. He has been registered with Insigneo Securities, LLC in Miami, Florida since 2018. Previously, he was registered with Wells Fargo Clearing Services, LLC in Miami, Florida from 2010 to 2018.
Gerardo Castillo Customer Complaints
He has been the subject of two customer complaints between 2009 and 2019, one of which was withdrawn, according to his CRD report:
December 2019. “Claimants alleges that in or about 2014, FA excessively traded their account and misrepresented the account for the primary purpose of generating commissions.” The case was settled for $125,000. The complaint was regarding UITS and took place while he was registered with Wells Fargo Clearing Services, LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Wells Fargo Clearing Services, LLC may be liable for investment or other losses suffered by Gerardo Castillo’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.