Zachary Harless is Facing a Suitability Dispute
Zachary Harless (CRD #: 5525364), a broker registered with Wells Fargo Clearing Services, is the subject of an investor dispute. This dispute appears on his BrokerCheck record, accessed on November 16, 2023. Investors should know that this is the fourth investor dispute on his record.
On October 20, 2023, an authorized party complained that Zachary Harless recommended improper asset allocation given the account owner’s age. This recommendation allegedly led to losses. The account owner sought $120,000, but the firm denied the dispute.
It is worth noting that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.
What is an Unsuitable Investment?
FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
- Financial goals
An investor’s age can make long-term investments unsuitable, for example. Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations.
Zachary Harless has passed the following exams:
- Series 66 Uniform Combined State 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
He is a registered broker in 13 states and is a registered investment adviser in California and Texas.
During his 13 years of experience, Zachary Harless has registered with three firms:
- Wells Fargo Clearing Services (CRD #: 19616)
- BBVA Securities (CRD #: 27060)
- BBVA Compass Investment Solutions (CRD #: 17086)
Kurta Law Can Help
If you worked with Zachary Harless and have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.