Herbert Lee Weith IV of Naples Florida a stockbroker formerly registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $260,000.00 in damages supported by accusations of the stockbroker’s unsuitable recommendations as it pertained to a mutual fund and annuity while he was registered with Wells Fargo. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03643 (Oct. 27, 2020).
FINRA Public Disclosure reveals that Weith has been identified in two more customer initiated investment related disputes containing allegations of his misconduct while employed by Wells Fargo. On June 26, 2015, a customer initiated investment related complaint concerning Weith’s conduct was resolved for $28,594.00 in damages founded on accusations that misrepresentations had been made by the stockbroker and that investments failed to be suitable for the Wells Fargo customer.
On August 24, 2017, another customer initiated investment related complaint involving Weith’s conduct was settled for $20,000.00 in damages based upon allegations of the stockbroker’s negligence concerning the use of 401(k) funds for a 2017 annuity purchase through Weith and Wells Fargo Advisors.
Weith was registered with Wells Fargo Clearing Services between March 2, 2012 and May 3, 2019. Between January 29, 2020 and October 22, 2020, he was registered with Equitable Advisors LLC.