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Former WFG Investments, Inc. Broker Damian Bell Investment Loss Options

Posted on Monday, July 17th, 2017 at 6:52 pm    

WFG Investments

Were you the victim of former WFG Investments, Inc. broker Damian Bell (CRD# 2348521)? Bell has been registered with International Assets Advisory, LLC in Orlando, Florida since June 2017. Previously, he was registered with WFG Investments, Inc. in Daphne, Alabama from 2010 to 2017.

Bell has been the subject of 12 customer complaints between 2003 and 2020, two of which were denied and two were closed without action, according to his CRD report. Recent complaints are regarding: 

April 2021. “Failure to supervise and investigate, breach of fiduciary duty and respondent superior, unsuitability, breach of contract.” The customer is seeking $50,000 in damages. 

December 2020. “Negligence, professional negligence, violations of law, unsuitable recommendations, negligent supervision breach of contract, breach of fiduciary duty.” The customer is seeking $100,000 in damages. 

October 2020. “Breach of contract, violation of state securities statutes.” The customer is seeking $500,000 in damages and the case is currently pending. The complaint was regarding alternative investments and the complaint took place while Bell was registered with International Assets Advisory, LLC.

June 2017. “Failure to conduct due diligence on an alternative investments and breach of fiduciary duty.” The customer sought $300,000 in damages and the case was settled for $5,054,000. The complaint took place while Bell was registered with WFG Investments, Inc.May 2017. “Claimants allege failure to conduct reasonable due diligence, made materials misrepresentations and failed to disclose material facts. These activities are alleged to have occurred between May to October 2013.” The customer sought $505,000 in damages and the case was settled for $5,054,000. The complaint took place while Bell was registered with WFG Investments, Inc. and was regarding private placements. 

April 2017. “Customer alleges investment recommendations were unsuitable. Dates involved were from April 2015 to March 2016.” The customer sought $37,000 in damages and the case was settled for $4,950. The case was regarding corporate debt and mutual funds and took place while Bell was registered with WFG Investments, Inc.

January 2017. “Claimants allege failure to conduct reasonable due diligence, made materials misrepresentations and failed to disclose material facts. These activities are alleged to have occurred between June through December 2013.” The customer sought $1,100,000 in damages and the case was settled for $5,054,000. The case was regarding private placements and took place while Bell was registered with WFG Investments, Inc.

March 2016. “Claimants allege various failures including failure to conduct a reasonable investigation into Servergy, misrepresentation, unsuitable recommendations and breach of fiduciary duty.” The client sought $2,780,000 in damages and the case was settled for $250,000. The complaint was regarding private placements and it took place while Bell was registered with WFG Investments, Inc.

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, WFG Investments, Inc. and International Assets Advisory, LLC may be liable for investment or other losses suffered by Bell’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.