Scott Alan Kaufman a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been terminated from employment on June 30, 2017 based upon allegations that Kaufman failed to communicate with customers about trades prior to executing them in their accounts.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on April 26, 2018, a customer initiated investment related complaint involving Kaufman’s conduct was settled for $50,000.00 in damages supported by accusations that while Kaufman was associated with Wells Fargo Advisors, LLC, Kaufman executed trades in the customer’s account without the customer’s knowledge between August 29, 2012 and June 30, 2017. The customer additionally claimed to have been improperly advised about the customer’s principal being maintained if withdrawals were to be effected from the customer’s account.
Kaufman has been employed by LPL Financial LLC since June 30, 2017.
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