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Joel Farnsworth Facing a $4.2 Million Dispute

Joel Farnsworth (CRD #: 1980052), a broker registered with Wedbush Securities, is the subject of an investor dispute. This dispute appears on his BrokerCheck record, accessed on September 20, 2023. Keep reading if you have questions about this dispute. 

On July 21, 2023, an investor alleged that Joel Farnsworth engaged in negligence and breached his fiduciary duty. The investor is seeking $4.2 million. 

Negligence

Many types of broker misconduct may qualify as negligence. Typical examples include unsuitable investment recommendations, misrepresentations or omissions of material fact, and failure to follow instructions.

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.) 

Background Information 

Joel Farnsworth has passed the following exams: 

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

He is a registered broker in California, Idaho, Nevada, and Texas. He is a registered investment adviser in California. 

Joel Farnsworth has registered with the following firms: 

  • Wedbush Securities (CRD #: 877) 
  • First Wall Street Corp (CRD #: 13024
  • Miller & Schroeder Financial (CRD #: 7119) 
  • Smith Barney, Harris Upham & Co. (CRD #: 7059) 
  • Wulff, Hansen & Co. (CRD #: 908) 
  • Gruntal & Co. (CRD #: 372) 
  • Bear, Stearns & Co. (CRD #: 79) 

Kurta Law Can Help

If you worked with Joel Farnsworth and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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 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.