William Stoddard Valentine of Philadelphia Pennsylvania a stockbroker formerly registered with Wells Fargo Advisors LLC was the subject of a customer initiated investment related complaint which settled on December 19, 2016 for $5,000.00 in damages supported by accusations that (1) the customer’s assets were not diversified (2) the customer’s assets were over-concentrated in master limited partnerships and energy sector investments and (3) closed end fund transactions were not suitable for the customer and (4) Valentine neglected to reallocate the customer’s investment portfolio or otherwise reassess the customer’s objectives for investing between January 18, 2001 and August 10, 2016.
Valentine’s employment with Wells Fargo Advisors, LLC was terminated on November 16, 2016 – less than two months after the customer’s complaint had been received by Wells Fargo. Valentine has been employed by Oppenheimer & Co. Inc. since November 11, 2016.
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