Allen Wilson: Complaint Against Wells Fargo Advisor Settles for $80K

Florham Park, New Jersey financial advisor Allen Wilson (CRD# 2420229) recently received an investor complaint alleging his investment advice resulted in losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Wells Fargo Clearing Services. 

Mr. Wilson’s BrokerCheck report discloses one investor complaint.Filed in February 2022, it alleged that as a representative of Wells Fargo Advisors, he “recommended products that were unsuitable and not appropriate” between August 2012 and February 2022. In July 2022 the complaint reached a settlement of $80,000.

In a statement included in the complaint’s disclosure, Mr. Wilson defended himself against the allegations. “I believe the complaint was without merit,” he wrote. “I admitted no wrongdoing and did not contribute to the settlement.”

According to the Financial Industry Regulatory Authority, Allen Wilson holds 28 years of securities industry experience. Based in Florham Park, New Jersey, he has been a broker and an investment advisor with Wells Fargo Clearing Services since 2012. His past registrations include Stifel Nicolaus & Company (Florham Park, New Jersey; 2007-2012), Ryan Beck & Company (Florham Park, New Jersey; 2005-2007), JB Hanauer & Company (Parsippany, New Jersey; 1994-2005); and Chatfield Dean & Company (Greenwood Village, Colorado; 1993-1994). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He currently holds 26 state licenses. (Information current as of September 26, 2022.)

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