Stephen Anthony Pierce of Daphne Alabama a stockbroker formerly registered with WFG Investments Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $50,000.00 in damages based upon accusations that (1) Pierce made omissions and misrepresentations concerning the customer’s private placement investments and (2) Pierce did not undertake an adequate amount of due diligence in regard to the investments sold to the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00486 (Feb. 14, 2017).
FINRA Public Disclosure additionally reveals that on January 7, 2004, a customer filed an investment related complaint regarding Pierce’s activities where the customer requested $40,000.00 in damages supported by allegations that while Pierce was associated with Merrill Lynch Pierce Fenner Smith Inc., Pierce made inappropriate recommendations for the customer to purchase over-the-counter equities, and placed trades in the customer’s account without procuring the customer’s permission beforehand.
Pierce’s registration with WFG Investments Inc. has been terminated as of May 26, 2017. On June 9, 2017, Pierce became employed by International Assets Advisory LLC.
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