Clifford Edward Bryan III, of Merrillville, Indiana, a stockbroker formerly registered with Wells Fargo Clearing Services, is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $695,000.00 in damages founded on accusations that Bryan failed to supervise a stockbroker’s recommendations in a customer’s account at Wells Fargo Clearing Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00028 (January 2, 2020).
According to the Statement of Claim, the customer’s account had been exposed to unsuitable and unauthorized trading. The claim also alleges that the customer was induced into taking a loan from Wells Fargo because of false information about her prospective investment returns. Causes of action also include breach of fiduciary duty, breach of contract, and fraud.
FINRA Public Disclosure also shows that a customer initiated investment related complaint regarding Bryan’s activities was settled for $7,500.00 in damages supported by allegations of unauthorized bond sales when Bryan was employed by Morgan Stanley DW Inc.
Bryan’s registrations with Wells Fargo Clearing Services have been terminated on August 30, 2018. Since August 23, 2018, Bryan has been registered with Benjamin F. Edwards Company Inc. as a stockbroker and investment adviser representative.
