Tag Archives: Waddell & Reed Inc.

Investors Claim Waddell Reed Provided Bad Investment Advice

May 13, 2020  |   Posted by :   |   Securities Arbitration Claims, Unauthorized Trading   |   Comments Off on Investors Claim Waddell Reed Provided Bad Investment Advice

Donald Logan of Silverdale Washington a stockbroker registered with Waddell Reed Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $15,000.00 in damages based upon accusations that the customer was poorly advised by Logan as it pertained to a variable universal life insurance policy that the customer purchased […]

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Investors Accuse Waddell Reed Of Unit Investment Trust Misconduct

Gale Ann Brodie (also known as Gale Ann Jenckes) of Sacramento California a stockbroker registered with Waddell Reed Inc. is the subject of a customer initiated investment related complaint on June 1, 2018 in which the customer requested $57,000.00 in damages based upon allegations that the customer was placed into unit investment trust products containing […]

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Waddell Reed Stockbroker Sanctioned For Customer Loan

November 24, 2019  |   Posted by :   |   Customer Loans, Investment and Regulatory News   |   0 Comments

Cody Hawkins Fitzgerald (also known as Cody Doyle Hawkins) of Maitland Florida a stockbroker formerly registered with Waddell Reed has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he borrowed a customer’s funds in contravention of the policies […]

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Waddell Reed Broker Admits To Unauthorized Trading

Donald Logan of Silverdale Washington a stockbroker formerly registered with Waddell Reed and Edward Jones has been fined $25,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Logan traded in customer’s investment accounts without authorization (2) Logan exercised discretion in customer’s […]

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Broker Barred For Stealing Money From His Mother

Robert Lee Basile of Corona California, a stockbroker formerly employed by Waddell Reed Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he stole the funds belonging to a Waddell Reed customer, whom just happened to be his own elderly mother, […]

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Waddell Reed Accused Of Failure To Diversify Investments

Sean Lewis Dobranich of Las Nevada a stockbroker currently employed by Waddell Reed is referenced in a customer initiated investment related written complaint on April 28, 2017 in which the customer requested $25,000.00 in damages founded on allegations that (1) Dobranich over-concentrated the customer’s managed account in inappropriate securities (2) Dobranich neglected to sell the […]

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Waddell Reed Broker Fined For Outside Business Activities

Carlos Velazquez of Elgin Illinois a stockbroker formerly employed by Waddell Reed has been fined $10,000.00 and suspended for eight months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in undisclosed outside business activities and falsified documentation to FINRA personnel. Letter of […]

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Customer Sues Waddell Reed For Annuity Suitability

March 22, 2018  |   Posted by :   |   Investment and Regulatory News, Variable Annuites   |   0 Comments

Chun Mei Zhu of Bellingham Washington is a stockbroker currently registered with Waddell & Reed who is the subject of a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages supported by accusations that Zhu made unsuitable investment recommendations to the customer concerning the use of the customer’s 401(k) funds to […]

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Customer Sues Waddell Reed For Conversion

January 08, 2018  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

Gregory Russel Bauer of Moon Township, Pennsylvania, a former stockbroker of Waddell & Reed, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer sought $386,871.00 in damages based upon accusations that Bauer stole his parent’s funds through the submission of forged and fraudulent endorsements and withdrawal forms. Financial […]

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Waddell & Reed Stockbroker Fired For Unauthorized Trading

April 20, 2017  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   0 Comments

William Ferrell Albin, of Las Vegas, Nevada, a stockbroker registered with Waddell & Reed, Inc., has been terminated from employment on July 21, 2016, based upon allegations that he violated policies of the firm by exercising discretion in customer accounts without the customers’ written authorization. This is not the first time that Albin has been […]

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Waddell And Reed Principal Barred In Investigation

March 21, 2017  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

Paul Douglas Stanley, of Edmond, Oklahoma, a stockbroker and principal formerly registered with Waddell & Reed, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed an investigation into allegations that he violated his firm’s policies concerning supervision, compensation and […]

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Waddell And Reed Stockbroker Barred For Stealing

Gregory R. Bauer, a former stockbroker with Waddell & Reed, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he committed the fraudulent conversion of customer funds. Letter of Acceptance, Waiver and Consent, No. 2016051508101 (Oct. 13, 2016). According to the AWC, […]

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