Financial Advisor Richard Wesselt Has Been The Subject Of Nine Customer Complaints Since 2007
The Wolper Law Firm is currently investigating claims against Richard Wesselt, a former Financial Advisor at the O.N. Equity Sales Company and Fortune Financial Services, Inc. in Collegeville, Pennsylvania. Steven Pagartanis has been in the securities industry since 1992 and has worked for several other brokerage firms, including Sterne Agee Financial Services and American Investment Services.
According to public records released by the Financial Industry Regulatory Authority (FINRA), Richard Wesselt has been the subject of nine customer complaints since he started his career in the financial services industry in 1992. This is an exceedingly high number of customer complaints to be filed against a single Financial Advisor. Among the complaints include the following:
- August 2017—“Customer alleges sale of variable annuity was not suitable.” The matter was settled for $25,674.
- March 2017—“Customer alleges rep negligently sold unsuitable products in violation of his fiduciary duty.” The matter was settled for $15,000.
- August 2016—“Customer alleges sale of variable annuity and life insurance were unsuitable.” The matter was settled for $24,257.
https://brokercheck.finra.org/individual/summary/2195569#disclosuresSection
Suitability is one of the most common legal claims brought in securities arbitration and litigation matters. Financial Advisors are required by law to only recommend investments to their customers that are appropriate for their needs and objectives. If the Financial Advisor breaches this duty, he and his employing brokerage firm can be held liable for any investment losses realized by the customer.
If you or someone you know was a customer of Richard Wesselt and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@67.43.6.64 to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
