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David Wells Allegedly Facilitated Unsuitable Transactions

May 24, 2023 Investor Disputes

David Wells (CRD #: 1006555), a broker registered with B.B. Graham & Company, is the subject of a pending dispute, according to his BrokerCheck record, accessed on May 15, 2023. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On February 3, 2023, an investor alleged that David Wells facilitated unsuitable investment transactions in February 2017, March 2019, and January 2021. The client seeks $215,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles describe an investor’s age, tax status, risk tolerance, and other characteristics.

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by seeking out FINRA arbitration.

Background Information

David Wells has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 52TO – Municipal Securities Representative Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 53 – Municipal Securities Principal Examination
  • Series 24 – General Securities Principal Examination

David Wells is a registered broker in Arizona, California, Florida, and New York.

He has also worked for the following firms:

  • Kingswood Capital Partners (CRD#:288898)
  • Accelerated Capital Group (CRD#:41270)
  • Newport Coast Securities (CRD#:16944)
  • Mutual Securities (CRD#:13092)
  • Wedbush Morgan Securities (CRD#:877)
  • Brookstreet Securities Corporation (CRD#:14667)
  • Foresight Capital Management (CRD#:15458)
  • San Clemente Financial Group Securities (CRD#:21895)
  • Aegon USA Securities (CRD#:13302)
  • Olde Discount Corporation (CRD#:5979)
  • Busch Financial Group (CRD#:15680)
  • Southmark Financial Services (CRD#:6518)

Kurta Law Can Help

If you worked with David Wells and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.