John Bradford Leonard, of Toledo, Ohio, a stockbroker formerly registered with Wells Fargo Advisors, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to respond to a FINRA informational request regarding his activities. Case No. 2016050686801 (Apr. 14, 2017).
FINRA Public Disclosure reveals that Leonard has been named in five customer initiated investment related disputes regarding allegations of his unsuitable investment transactions having been effected in customer accounts while he was employed with Wells Fargo Advisors, LLC. Specifically, on October 4, 2016, a customer initiated investment related written complaint involving Leonard’s conduct was settled for $60,000.00 in damages based upon allegations that Leonard effected unsuitable direct participation program transactions in the customer’s account.
On October 5, 2016, another customer filed an investment related written complaint regarding Leonard’s activities, in which the customer requested damages exceeding $5,000.00 based upon allegations that Leonard over-concentrated the customer’s holdings in energy sector master limited partnership products, resulting in the customer’s losses.
Subsequently, on January 19, 2017, a customer initiated investment related arbitration claim concerning Leonard’s conduct was settled for $25,000.00 in damages based upon allegations that he made unsuitable investment recommendations to the customer. Moreover, on February 2, 2017, a customer initiated investment related written complaint regarding Leonard’s activities was resolved for $24,000.00 in damages based upon allegations against Leonard of unsuitability.
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