Articles Tagged with Unsuitability Attorney

More Investors Sue For Losses Sustained While Working With Ex-Fortune Financial Services Broker Richard Wesselt. More Than Three Dozen Investment Loss Recovery Claims Filed By Former Customers 

Shepherd Smith Edwards and Kantas Unsuitability Attorney teams (investorlawyers.com) is continuing to investigate allegations that ex-Fortune Financial Services stockbroker Richard Wesselt made unsuitable investment recommendations to customers, which caused them to sustain losses. According to Wesselt’s CRD he has 43 disclosures, and most of these are investment loss recovery claims.

In the still pending unsuitability cases, former customers are collectively seeking almost $5M in damages. Most of the other investor claims resulted in settlements, including one for $1.5M and many for five- or six-figures. Other allegations made against Wesselt include making misrepresentations and omissions about the products he purportedly unsuitably recommended—including overselling them—churning, having clients take loans from policies, purportedly forging their signatures on loan documents, and more.