Wells Fargo Terminated Broker, Earle Tingley, For Taking A Loan From A Client
The Wolper Law Firm is currently investigating claims against Earle Tingley, a former Financial Advisor at Wells Fargo in Winter Haven, FL. Earle Tingley has been in the securities industry since 2001 and previously worked at AG Edwards and Wachovia Securities.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on April 27, 2018, Earle Tingley was terminated by Wells Fargo after he “acknowledged receiving a loan from a client in violation of Firm policies and failing to inform the Firm regarding same.” This same misconduct prompted a FINRA investigation and subsequent sanction, which became final on August 23, 2018. FINRA fined Earle Tingley and also suspended him for 45 days.
In addition, Earle Tingley has two prior customer complaints on his disclosure report, including a claim for misrepresentation of an investment, which was settled for $200,000.
To review a full copy of Earle Tingley’s FINRA disclosure report, click https://brokercheck.finra.org/individual/summary/4444579#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Trading long-term investment vehicles in short duration is per se improper as it presents very little benefit to the customer and only benefits the Financial Advisor, who earns commissions. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
If you or someone you know was a customer of Earle Tingley’s and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
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.
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