Dean Thompson Allegedly Made Changes in an Investor Account without Authorization

Dean Thompson (CRD #: 2162039), a broker registered with Wells Fargo Clearing Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 1, 2024. Investors should know that this is the fourth investor dispute on his record. 

Investor Dispute

On January 29, 2024, an investor alleged that Dean Thompson made changes without authorization. These changes allegedly resulted in losses as well as fees. The investor sought $125,262.79 but the dispute was denied. Investors should know, however, that firms can deny disputes without any external review. Our securities attorneys can still help investors recover funds following a denial. 

FINRA Rule 3260

FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.

Background Information 

Dean Thompson has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 22 Direct Participation Programs Representative Examination
• Series 53 Municipal Securities Principal Examination  
• Series 24 General Securities Representative Examination 

He is a registered broker in ten states and is a registered investment adviser in California and Texas. 

During his 28 years of experience, Dean Thompson has registered with seven firms. These are the four most recent: 

• Wells Fargo Clearing Services (CRD #: 19616) 
• BancWest Investment Services Inc (BWIS) (CRD #: 29357) 
• Planco Financial Services (CRD #: 8326) 
• Banc of American Investment Services (CRD #: 16361) 

Kurta Law Can Help 

If you have worked with Dean Thompson and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.