Adam Petersen Summers of Crown Point Indiana a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested compensatory damages founded on allegations that Summers made unsuitable recommendations for the customer’s account at ETrade. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03968 (Dec. 4, 2020).
According to FINRA Public Disclosure, Summers’ employment with two securities broker dealers has been terminated based on misconduct allegations. He was terminated by Wells Fargo Clearing Services on December 10, 2020 which was during the time that he was internally investigated for being named beneficiary of a customer’s insurance policy. The securities broker dealer also mentioned that Summers was being reviewed for his trading in a customer’s account which led to a customer complaint.
Summers was registered with Stifel Nicolaus Co. between December 10, 2020 and December 14, 2020. He was discharged by Stifel Nicolaus supported by accusations that he neglected to disclose that he was subject of a customer initiated investment related FINRA securities arbitration claim.
The stockbroker was also registered with LaSalle St. Securities LLC between January 21, 2021 and June 14, 2021.