Erez Law is currently investigating former Wells Fargo Clearing Services, LLC broker Scott Spruth (CRD# 1049999) regarding unsuitable investment recommendations. He was registered with Wells Fargo Clearing Services, LLC in Newport Beach, California from 2008 to 2021.
Scott Spruth Customer Complaints
He has been the subject of three customer complaints between 2011 and 2022, one of which was denied, according to his CRD report:
January 2022. “Claimant, now 85 years old, alleges that her Financial Advisor made repeated unsuitable recommendations to invest that were harmful to her.” The case is currently pending.
April 2019. “Arbitration: Plaintiff alleges that FA did not inform him about changes to his accounts in 2016 that discontinued a tax free interest option for cash which resulted in unanticipated taxable income and taxes. Complaint: Counsel for the client alleged the financial advisor did not inform the client of changes to his account which have resulted in unanticipated taxable income. (9/1/2016-2/25/2019).” The case is currently pending. The complaint was regarding municipal debt.
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 Scott Spruth’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.