UPDATED JULY 2018
Lumberton/Beaumont , Texas
According to FINRA records, Wesley “Clint” Smith , a stockbroker who formerly worked for Edward Jones discloses a pending customer dispute, 7 prior customer disputes and one final regulatory event.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Smith discloses a currently pending customer dispute, in which a customer of Edward Jones alleges damages in excess of $600,000 . The clients claim that Smith misrepresented the amount of monthly payments they could expect to receive from the investment portfolio he managed and relying on his representations they retired from their careers. The case is currently pending in Jefferson County District Court.
In one of the prior customer disputes, Edward Jones discloses that in 2015 a customer alleged that Smith had misappropriated funds from the client’s account in November and December 2013 and January 2014. Damages of $5,000 were alleged and , based on the firm’s investigation, the claim was settled for $15,000.
In another of the prior customer disputes, Edward Jones discloses that in 2014 a customer alleged that Smith had misappropriated funds from the client’s account . Damages of $5,000 were alleged and , based on the firm’s investigation, the claim was settled for $9,769.45.
In one other prior customer dispute, Edward Jones discloses that in 2014 a customer alleged that Smith had sold the client gold coins but she never received them . Damages of $5,600 were alleged and , based on the firm’s investigation, the claim was settled for $5,600.
In 2/2015, Wesley Clint Smith was permanently barred from the securities industry by FINRA for failing to respond to FINRA’s Notice of Suspension.
Smith was employed by Edward Jones from 1/2008-9/2014.
If you have questions about an account handled by Wesley C. Smith, call for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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