Wells Fargo Terminates Robert Meyers for Recommending Private Investments

The investment fraud attorneys at Gana Weinstein LLP have been investigating previously registered broker Robert Meyers (Meyers). According to the Financial Industry Regulation Authority (FINRA) BrokerCheck records, in October 2017, Meyers was terminated from Wells Fargo Clearing Services LLC (Wells Fargo) for recommending investments to customers that he did not notify the firm about. In addition, Meyers has been subject to eight customer disputes. In August 2005, a customer alleged that Meyers failed to follow the customer’s instructions regarding the investment. The customer requested $1,000,000 in damages. Meyer was recommending investments to customers that his firm had never pre-approved. The practice in which a broker engages customers to invest in companies, promissory notes, or other securities that are not pre-approved by the broker’s affiliated firm is known as selling away.  All member firms have the duty to supervise their advisors under FINRA…

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