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Allen Wilson: $545K Complaint Against Wells Fargo Advisor
Florham Park, New Jersey financial advisor Allen Wilson (CRD# 2420229) allegedly recommended unsuitable investments, according to recent investor complaints. 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 multiple investor complaints. The most recent, filed in June 2023, alleges that as a Wells Fargo representative, he “recommended an unsuitable investment in preferred shares of a bank that later failed.” The pending complaint alleges damages of $545,000.
An earlier investor complaint, filed in February 2022, 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 29 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, 2023.)
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.