https://www.advisorhub.com/wells-fargo-broker-broadway-producer-disappeared-3-4m-intended-for-ghost-musical-suit/
5 replies (most recent on top)
Anyone can sue anyone. It's the American Dream. In this case in particular, apparently, Wells already investigated. WFA doesn't need a big excuse to fire someone. They are very conservative when it comes to items like this. We'll see what shakes out.
Not surprised to see an external interest was approved even with obvious conflicts. There was a guy on our team who had an outside business and it was clearly interfering with his work daily. Several people on the team called the ethics line after the manager said there was nothing he could do.
Conflict of interest investigation happens. Guy with conflict tells them there is none, lies and says he sold the company and case is closed. He was hiding nothing - except the truth - as he was posting on social media all day hyping his company. His behavior continues until the team pushes back on the manager about picking up his work while he’s busy working his side deal instead of doing any work. After the team tells the manager they will call the ethics line on him, he actually starts managing and the guy with the conflict ends up fired after being MIA something like 20 days in a month and ignores turning in any work for even longer.
Stealing from the team, the company or the customer, all are ok here.
Its like the gov't, they see a weaken company down on its knee's and they're their trying to steal your shoes while in your in the mud. Most these cases are junk. I'm kind of sick and tired of this place always being kicked, if the bank doesn't make money it impacts my income one way or another.
This doesn't really have anything to do with Wells Fargo nor JP Morgan.
The plaintiff is suing Wells Fargo and Morgan Stanley because they have deeper pockets, but that will be quickly tossed.
Amazing that people are still doing business with Wells Fargo Advisors.