Nathan Wells Subject of a Six-Figure Investor Dispute

Nathan Wells (CRD #: 5553359), a broker registered with Cetera Advisor Networks, is involved in an investor dispute. This is according to his BrokerCheck record, accessed on July 19, 2023. Keep reading if you have questions about his conduct as a broker. 

On May 26, 2023, investors allege that Nathan Wells failed to advise investors regarding the risks and illiquid nature of two investment products. The investors further alleged that the investments were unsuitable. The investors are seeking $100,000. 

FINRA Rule 2020 

FINRA Rule 2020 prohibits the misrepresentation of an investment and the omission of material facts such as an investment’s potential returns, risks, or limitations. Failing to disclose the illiquid nature of an investment product may violate FINRA Rule 2020. 

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. 

• Investments can be unsuitable because they are high risk and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

Background Information 

Nathan Wells has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General SEcurities Representative Examination 

He has registered with the following firms: 

• Cetera Advisor Networks (CRD #: 13572) 
• Voya Financial Advisors (CRD #: 2882) 
• MML Investors Services (CRD #: 10409) 
• ING Financial Partners (CRD #: 2882) 

He is a registered broker in 26 states and is a registered investment adviser in Illinois and Texas. 

Kurta Law Can Help

If you worked with Nathan Wells 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 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.