Ralph Dennis Courtland, of Fairfield, New Jersey, a stockbroker registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested damages in excess of $1,000,000.00 based upon allegations that Courtland failed to supervise a financial advisor from April of 2012 through September of 2019. This advisor allegedly made unsuitable recommendations of variable annuities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-00311 (February 18, 2022).
This is not the first time that Courtland has been referenced in a customer initiated investment related dispute concerning Courtland’s conduct in the securities industry. FINRA Public Disclosure shows that Courtland was also referenced in a customer initiated investment related complaint filed on April 28, 2008, in which the customer requested damages estimated to be above $5,000.00 based upon allegations that Courtland did not fully explain the tax implications associated with the sale of a variable annuity at A.G. Edwards Sons Inc. The complaint alleged that had these critical tax implications been explained, the customers would have opted against purchasing the annuity. The complaint was closed on April 29, 2010, with no further action by the customer.
Courtland was also referenced in a customer initiated investment related civil action in which the customer requested damages believed to be in excess of $5,000.00 based upon allegations that several stockbrokers at Wells Fargo Clearing Services LLC, including Courtland, breached their fiduciary duties. The plaintiffs, estate beneficiaries, alleged mismanagement of assets, allowing a third-party to transfer assets from the accounts, and executing transactions not aligning with the designated investment objectives. Civil Action No. P-219005 (Superior Court of New Jersey, September 10, 2019).
Courtland has been associated with Wells Fargo Clearing Services LLC in Fairfield, New Jersey since January 1, 2008.
