Former Wells Fargo Rep Robert Montes Barred by FINRA After Investigation Into The Possible Misuse of Elderly Client Assets

Robert Frederico Montes (CRD# 835488) has been barred by the Financial Industry Regulatory Authority (FINRA) for failing to cooperate with regulators in an investigation over alleged misuse of elderly customer assets.

Montes, who is no longer registered as a securities broker, was employed by Wells Fargo Advisors, LLC in Clearwater, Florida from July 2003 to February 2014, and Morgan Stanley from February 2014 to July 2019.

Although Montes had left Wells Fargo in 2014, FINRA opened an investigation into his conduct while he was registered with Wells Fargo in 2019. FINRA’s BrokerCheck database shows regulators had received a tip claiming Montes may have misused an elderly customer’s assets.

As part of the inquiry, FINRA regulators asked Montes for documents. Montes failed to cooperate and did not provide information or documentation as requested. The decision led to his acceptance of FINRA’s findings that he refused to provide requested information related to the investigation, and resulted in his permanent bar from the financial industry on 7/24/2019.

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Did you or someone you love lose money investing with Robert Montes? Meyer Wilson is here to help. Voted among the “Best Lawyers in America,” our firm has recovered over $350 million for clients who suffered financial losses as a result of investment fraud and misconduct by bad brokers, as well as brokerage firms’ failures to supervise their registered representatives.

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