Matthew Fetui: $7 Million Complaint Against Wells Fargo Advisor

Costa Mesa, California financial advisor Matthew Fetui (CRD# 5511717) recently received an investor complaint alleging that his advice resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Wells Fargo Clearing Services and Wells Fargo Advisors, respectively.

Mr. Fetui’s BrokerCheck report discloses one investor complaint. Filed in April 2026, it alleges that as a representative of Wells Fargo Clearing Services, he recommended unsuitable exchange-traded fund investments. The pending complaint alleges damages of at least $7 million.

Investors should be aware that FINRA rules and other securities industry standards prohibit brokers  like Mr. Fetui from recommending investments that are considered unsuitable for an investor. Unsuitable investments and transactions, for reference, as those not based in a “firm understanding of both the product and the customer,” according to FINRA Rule 2111. This rule stipulated that brokers must perform “reasonable diligence” to determine whether an investment or investment strategy is appropriate for a customer’s background and objectives. They must determine that the recommendation is at least suitable for some investors; that it is suitable for the customer in question; and that, if they are recommending a series of transactions to a customer over whose account they have actual or de facto control, these transactions are suitable when taken together as well as when viewed individually. Brokers who recommend unsuitable investments or strategies may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, Matthew Fetui holds 17 years of securities industry experience. Based in Costa Mesa, California, he has been registered as a broker and an investment advisor with Wells Fargo Clearing Services and Wells Fargo Advisors, respectively, since 2024. His past registrations include US Bancorp Investments, Wedbush Securities, Buttonwood Tree Management, Standard Investment Chartered Incorporated, Wells Fargo Advisors, and Wells Fargo Investments. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He is licensed in Arizona, California, Hawaii, Massachusetts, Minnesota, Nevada, Oregon, Tennessee, Texas, and Washington. (Information current as of May 9, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.