Were You a Victim of Former Wells Fargo Broker Herbert Weith IV?
Posted on Monday, December 14th, 2020 at 9:17 pm
Erez Law is currently investigating former Wells Fargo broker Herbert Weith IV (CRD# 5453866) regarding customer investment losses. Weith was registered with Equitable Advisors, LLC in Columbia, Maryland from January to October 2020. Previously, he was registered with Wells Fargo Clearing Services, LLC in Naples, Florida from 2012 to 2019.
Weith has been the subject of three customer complaints between 2015 and 2020, according to his CRD report. The most recent complaint is regarding:
October 2020. “Claimant alleges (time frame not specified), his financial advisor made an unsuitable financial plan recommendation an annuity and mutual fund.” The customer is seeking $260,000 in damages and the case is currently pending. The complaint took place while Weith was registered with Wells Fargo Clearing Services, LLC and was regarding variable annuities and 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 may be liable for investment or other losses suffered by Weith’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.