April 2018 -Lafayette, LA
According to publicly available records Keith A. Fontenot (CRD#2296303) , a stockbroker who currently is employed by Wells Fargo Clearing Services, disclose settlements in 2 customer disputes.
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.
In FINRA Case 15-2471 a Wells Fargo Advisors customer sought damages in an unstated amount and alleged misleading and unsuitable recommendations regarding buying and selling annuities. In October 2016 that case was settled for $400,000.
In FINRA case 17-1181 a customer of Wells Fargo Clearing Services sought damages of $80,000 and alleged unsuitable recommendations to invest in equities, direct investments and limited partnerships. That case was settled in 2/2018 for $30,750.
Keith Fontenot has been employed with Wells Fargo Clearing Services since November 2016. Before then he was employed with Wells Fargo Advisors since May of 2009.
Brokers have a duty to make recommendations that are suitable, taking into account the age, risk tolerance, health and level of financial sophistication of the customer.
If you have losses in an account handled by Keith Fontenot, contact us for a no charge consultation to discuss your legal options.
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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