Shawn Allen Stults, of Midland, Texas, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint, which settled on May 24, 2017, for $6,249.91 in damages to resolve allegations that Stults effected transactions in the customer’s account that were not suitable for the customer.
Apparently, between January of 2017 and March of 2017, the customer was placed into market linked certificates of deposit and mutual funds products by Stults that caused the customer to sustain surrender penalties and financial losses, even though the customer sought investments in liquid and riskless products.
Stults’ registration with Wells Fargo Advisors was terminated on December 19, 2016. He has been registered with LPL Financial LLC on December 15, 2016.
Guiliano Law Group
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