Stephen Allen Kelbick of Villanova Pennsylvania is a stockbroker formerly registered with Wells Fargo Clearing Services LLC who has been fired on August 16, 2017, based upon allegations that Kelbick effected trades in customers’ investment accounts without ever having spoken to them before the transactions were entered.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Kelbick has been referenced in three additional customer initiated investment related disputes containing accusations of Kelbick’s misconduct while employed with Wells Fargo Advisors, LLC and Smith Barney, Inc. In particular, on March 16, 2000, a customer filed an investment related written complaint concerning Kelbick’s conduct in which the customer alleged that Kelbick made representations regarding a stock sale.
Subsequently, a customer initiated investment related arbitration claim involving Kelbick’s conduct was settled for $6,000.00 in damages supported by allegations that in January 2015, Kelbick executed unsuitable transactions in the customer’s account, and placed trades on an excessive and authorized basis. Case No. MJ-38106-CV-0000044 (Sept. 16, 2016). Thereafter, on December 21, 2016, a customer initiated investment related written complaint involving Kelbick’s conduct was settled for $24,000.00 in damages founded on accusations that Kelbick failed to invest in the exchange traded funds according to the customer’s investment instructions.
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