Opher Shallom: Wells Fargo Advisor Faced Options Complaint

A recent investor complaint against Wayzata, Minnesota financial advisor Opher Shallom (CRD# 4060644) alleges that he recommended an inappropriate strategy. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Wells Fargo Advisors Financial Network.

Mr. Shallom’s BrokerCheck report discloses two investor complaints. The most recent, filed in December 2024, alleges that as a representative of Wells Fargo Advisors Financial Network, he inappropriately recommended an outside money manager who employed a covered call strategy that resulted in losses. The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 2010, alleged that as a Citigroup Global Markets Advisor, concerned a structured note investment. The complaint alleged more than $22,000 in damages and was denied by the firm.

Mr. Shallom’s LinkedIn profile includes a section where he describes his services and experience as a Senior Financial Advisor at Wells Fargo. “I employ a thorough discovery process to understand your most critical goals, family dynamics and all other aspects that may impact your financial situation,” it explains. “Once armed with clarity and focus in your financial life you now have the tools to help make smart choices with your money, worry less and enjoy life more. Serving as the centralized connection point for you, I work with your other professional advisors, such as CPAs or attorneys to address the many facets of your complex financial situation.”

According to the Financial Industry Regulatory Authority, Opher Shallom holds 24 years of securities industry experience. Based in Wayzata, Minnesota, he has been registered as a broker and an investment advisor with Wells Fargo Advisors since 2024. His past registrations include Wells Fargo Clearing Services (Minnetonka, Minnesota; 2011-2024), Wells Fargo Investments (Los Angeles, California; 2010-2011), Citigroup Global Markets (Los Angeles, California; 2007-2010), Citicorp Investment Services (Los Angeles, California; 2004-2007), Edward Jones (St. Louis, Missouri; 2002-2004), American Express Financial Advisors (Minneapolis, Minnesota; 2002), IDS Life Insurance Company (Minneapolis, Minnesota; 2002), and American Express Financial Advisors (Minneapolis, Minnesota; 1999-2002). His credentials include the passage of four securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He holds 25 state licenses. (Information current as of January 12, 2025.)

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