Lose money after investing in a GPB Capital Holdings Fund? take action
1.800.931.8452
We can help recover your investment loss. Free consultations, always. CONTACT US

Wells Fargo Financial Advisor Tyler Rigsbee Barred After Allegations of Mishandling Customer Accounts

Tyler Rigsbee (CRD#: 6351278) was a previously registered Broker and Investment Advisor at Wells Fargo Clearing Services, LLC in Sacramento, CA. He entered the securities industry in 2014 and previously worked for Edward Jones.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in July 2021, FINRA sanctioned Tyler Rigsbee, barring him from associating with any member firm in all capacities indefinitely, beginning on July 7, 2021. The FINRA sanction states, “Without admitting or denying the findings, Rigsbee consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA. The findings stated that this matter originated from FINRA’s investigation of the Uniform Termination Notice for Securities Industry Registration (Form U5) filed by Rigsbee’s member firm that disclosed that he had been discharged during the course of an internal review where documents appear to show that client funds were received in his personal bank account after being transferred from the firm to a third party broker dealer, and then on to his bank account, without permission from clients.”

For a copy of the FINRA sanction, click here.

In addition, Tyler Rigsbee has been the subject of one disclosure:

● April 2021–”Financial advisor was terminated during the course of an internal review where documents appear to show that client funds were received in his personal bank account after being transferred from Wells Fargo to a third party broker dealer, and then to his bank account, without permission from clients.” Tyler Rigsbee was discharged from Wells Fargo Clearing Services, LLC..

For a copy of Tyler Rigsbee’s FINRA BrokerCheck, click here.

FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.

Now is the time to talk to an investment loss recovery lawyer. We can help recover your investment loss. Free consultations, always.
Main Office - Fort Lauderdale

1250 S. Pine Island Road
Suite 325
Plantation, FL 33324
Phone: (800) 931-8452
(954)-406-1231

Additional Office Locations (by appointment only)
Atlanta

3355 Lenox Road
Suite 7
Atlanta, GA 30326

Indianapolis

13295 N. Illinois St.
Suite 314
Indianapolis, IN 46032

New York City

275 Madison Avenue
Suite 705
New York, NY 10016

Dallas

3102 Maple Ave.
Suite 400
Dallas, TX 75201

Portland

5933 NE Win Sivers Drive
Suite 205
Portland, OR 97220

Denver

7900 E. Union Ave.
Suite 1100
Denver, CO 80237

Naperville

1700 Park Street
Suite 103
Naperville, IL 60563

Seattle

1001 Fourth Ave.
#3200
Seattle, WA 98154