Paul William Morse of New York New York a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint on July 18, 2017 where the customer sought damages estimated to exceed $5,000.00 supported by allegations that misrepresentations or false statements had been made to the customer about a variable annuity providing income for the remainder of the customer’s spouse’s life.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that another customer initiated investment related arbitration claim regarding Morse’s activities was settled for $20,000.00 in damages founded on accusations that while Morse was associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated: unauthorized trades were executed in the customer’s account; fiduciary duties owed to the customer had been breached; the customer’s account was handled in a negligent manner; and contractual obligations to the customer had been breached. National Association of Securities Dealers (NASD) Arbitration No. 97-01832 (July 8, 1998).
Then, on July 25, 2001, a customer initiated investment related arbitration claim concerning Morse’s conduct was resolved for $4,500.00 in damages based upon allegations that while Morse was associated with First Union Securities, Inc., the customer’s individual retirement account was inappropriately handled, and the customer’s account showed two options transactions which the customer never authorized. National Association of Securities Dealers (NASD) Arbitration No. 00-03906 (July 25, 2001).
Morse’s registration with Wells Fargo Advisors LLC was terminated on July 26, 2016. Since July 22, 2016, he has been employed by LPL Financial LLC.
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