Tag Archives: O N Equity Sales Co.

Richard Wesselt-Former O.N. Equity Sales Broker-Discloses Numerous Customer Disputes-Collegeville, PA

February 2019 – Collegeville, PA

According to publicly available records  Richard Wesselt  (CRD# 2195569) ,  a   registered stockbroker currently employed by Fortune Financial Services, Inc. disclose 3 pending customer disputes and 9 prior 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 December 2018, a customer of  O.N. Equity Sales Company, where Wesselt was previously employed,  alleged Mr Wesselt engaged in unsuitable sales practices relating to sale of insurance and annuities.    The alleged damages are $750,000 and the case is still pending.

In September 2018,  a Sterne Agee Financial Services customer, where Wesselt was previously employed,  filed FINRA case #18-03363 alleging unsuitable investment recommendations, deceptive and unfair trade practices in annuity variable insurance products.    The alleged damages are $300,000.

In June 2018, another Sterne Agee Financial Services customer filed FINRA case #18-02233 alleging unsuitable investment recommendations and misrepresentations and/or omissions of material information siting damages of $150,000.   This case is also pending.

Wesselt was employed by Sterne Agee Financial Services, Inc. from May 2002 until March 2014.   He was then employed with O.N. Equity Sales Company until September 2017.   He has been employed with Fortune Financial Services, Inc. since 9/2017.

Wesselt discloses a business affiliation with Wesselt Capital Group.

If you have losses in an account handled by Richard Wesselt, contact us for a no charge consultation to learn how you may be entitled 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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Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Miami Broker Bruce Supanik Barred by FINRA

In March 2014 the Financial Industry Regulatory Authority barred Miami, FL, broker Bruce Francis Supanik from the industry.
FINRA findings state that FINRA requested that Supanik appear and provide on the record testimony in relation to the events related to being fired by his firm for allegations that he transferred the balance of a customer’s account at the firm containing over $500,000 to the joint checking account he shared with the customer. Supanik then withdrew the balance from the joint checking account and deposited it into his personal bank account.
According to FINRA records Supanik is not currently registered . His previous registration history includes:
3/2005- 3/2013 The O.N. Equity Sales Co.
7/2002-3/2005 Associated Securities Corp
If you have questions about the way your brokerage account has been handled, call to speak with an experienced securities attorney.
Nationwide representation.
561 391 1900