Broker Jeffrey Randolph Wilson (CRD #1161819) is currently registered with
Wells Fargo Clearing Services, LLC in Las Cruces, New Mexico and has been
with the firm since May 23, 2014.
During his affiliation with Wells Fargo, Jeffrey Wilson was accused of
several improper dealings, including excessive trading, excessive risk,
unsuitable recommendations, and misrepresentation.
Jeffrey Wilson was registered with Morgan Stanley from June 2009 to June
2014, Morgan Stanley & Co. Incorporated from October 2007 to June
2009, and Merrill Lynch, Pierce, Fenner & Smith Incorporated from
September 1985 until October 2007. All of his registrations took place
in Las Cruces, New Mexico.
Jeffrey Wilson’s FINRA report reflects a total of three disputes
involving allegations of stockbroker misconduct.
The most recent dispute took place after a complaint from a customer was
filed in May 2016. The FINRA report states that the “Claimant alleges
that investment recommendations made in or about 2014 were misrepresented
and unsuitable.” The customer alleged $1 million in damages.
On March 9, 2017, the report indicates that there was a settlement reached
in the amount of $357,000.
The first settled dispute was filed in December 2015 and was settled in
October 2016 for a total of $275,000. The second settled dispute filed
in May 2016 alleges that Jeffrey Wilson provided “unsuitable energy
and other investments.” The settlement was reached in the amount
of $250,000 in December 2016.
What is Excessive Trading?
Excessive trading is misconduct carried out by stockbrokers who attempt
to earn more income by having a higher number of trades, as brokers earn
commission based on the trades they make. However, trading in an excessive
manner, which is also known as over-trading or churning, can end up hurting
With excessive trading, the stockbroker is more often interested in increasing
his or her commissions rather than putting the best interest of his or
her investors at the forefront of the actions.
There are a few indications that your stockbroker may be engaged in excessive
trading, and if you spot any of these warning signs, you will want to
get in touch with your broker to receive detailed information about the
reasons behind the trades:
•Paying higher than expected fees may point to possible churning activities,
especially if it relates to certain sections of your investment portfolio.
•Frequent trades involving sales and purchases that seem inconsistent
with your investment goals and preferred risk tolerance may point to over-trading.
•Trading that you have not authorized may be due to excessive trading
activity, and it is important to contact the firm your broker is associated
with immediately to address the issue.
If your stockbroker is not providing adequate answers when you contact
him or her to gain clarification on trading or the assessment of fees,
you may wish to consult with an investment fraud attorney to review your
The stockbroker misconduct attorneys at Meyer Wilson are committed to holding
brokers accountable by representing investors who have been the target
of stockbroker misconduct and who have lost money as a result. The attorneys
are currently investigating the allegations against Jeffrey Wilson that
he engaged in excessive risk and other types of misconduct.
If you have lost money from your investments with Jeffrey Wilson, the investment
fraud attorneys at Meyer Wilson can provide you with a free case review
to answer any questions you may have.