Christopher D. Stoddard, of Norwell, Massachusetts, a stockbroker registered with Wells Fargo Advisors, LLC, was terminated from employment on November 23, 2016, based upon allegations of his conduct which coincided with Stoddard’s September 16, 2016 termination from his former employer, Morgan Stanley.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Stoddard has been named in six customer initiated investment related disputes containing allegations of his wrongdoing while associated with Salomon Smith Barney and Citigroup Global Markets Inc. Specifically, on May 21, 2002, a customer filed an investment related written complaint involving Stoddard’s conduct, in which the customer requested $52,000.00 in damages based upon allegations that Stoddard effected over-the-counter equity transactions in the customer’s account which were not suitable for the customer.
Subsequently, on September 11, 2002, a customer filed an investment related written complaint regarding Stoddard’s activities, based upon allegations that Stoddard effected unsuitable equity transactions and churned the customer’s investment account. On March 18, 2003, another customer filed an investment related written complaint involving Stoddard’s conduct, based upon allegations that Stoddard misrepresented a variable annuity investment that the customer purchased. Further, on May 20, 2003, a customer filed an investment related written complaint concerning Stoddard’s activities, in which the customer requested $30,780.61 in damages based upon allegations that Stoddard made unsuitable mutual fund recommendations to the customer.
Moreover, on December 7, 2004, a customer initiated investment related arbitration claim regarding Stoddard’s conduct was resolved for $9,999.00 in damages based upon allegations that Stoddard breached his contractual and fiduciary obligations to the customer, negligently managed the customer’s investment portfolio, effected equity transactions which were not suitable for the customer, and committed securities fraud.
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