Daniel Fain, of Boca Raton, Florida, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim, in which the customer requested $280,000.00 in damages based upon allegations that Fain concentrated the customers’ investments in unsuitable stocks. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-03290 (Nov. 14, 2016).
FINRA Public Disclosure confirms that on February 9, 1999, a customer filed an investment related written complaint involving Fain’s conduct, where the customer sought $7,630.00 in damages based upon allegations that while Fain was a financial advisor for Prudential Securities, he made unsuitable investment recommendations to the customer, overconcentrating the customer’s investment portfolio in speculative equity products.
Fain’s registration with Wells Fargo Clearing Services, LLC was terminated on June 9, 2017.
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