Mark Walter Wells, of Boca Raton, Florida, a stockbroker formerly registered with Morgan Stanley, is the subject of a customer initiated investment related written complaint on June 27, 2021, in which the customer requested compensatory damages supported by accusations that Wells provided unsuitable recommendations to them between 2016 and 2021 when Wells was employed by Morgan Stanley.

Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Wells has been identified in five customer initiated investment related disputes regarding allegations of Wells’ misconduct during the time that he was registered with Prime Capital Services Inc. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that a customer filed an investment related complaint concerning Wells’ conduct where the customer sought $75,000.00 in damages founded on accusations of unsuitable variable annuity sales by Wells while he was registered with Prime Capital Services. According to the complaint, Wells misrepresented information to the customer regarding variable annuities.

Another customer initiated investment related complaint regarding Wells’ activities was settled for $20,000.00 in damages based upon allegations that the customer’s signatures on investment documents were inauthentic and that Wells churned the customer’s accounts during the time that he was associated with Prime Capital Services. Wells is also identified in a customer initiated investment related FINRA securities arbitration claim which was resolved for $363,522.00 in damages supported by accusations of Wells’ unsuitable variable annuity sales at Prime Capital Services.

Another customer filed an investment related complaint involving Wells’ conduct in which they requested $8,792.00 in damages founded on allegations that misrepresentations by Wells resulted in damages to them. According to the complaint, the risks, expenses, and fees were not explained at the time of purchase.

Wells is also referenced in a customer initiated investment related written complaint where the customer sought $9,854.08 in damages based upon accusations of unsuitable trading regarding unit investment trusts and mutual funds in the customer’s Prime Capital Services account. According to the complaint, the customer was also sold inappropriate annuities.

Wells has been registered with Morgan Stanley as a stockbroker since March 21, 2014, and registered with Morgan Stanley as an investment adviser representative since March 26, 2014.

Tags: ,

Comments are closed.