Amad Owidi: Ex-Wells Fargo Advisor Lands Trading Complaint

A recent investor complaint against Houston, Texas financial advisor Amad Owidi (CRD# 5335079) alleges that he made unauthorized trades. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Raymond James & Associates, having previously been registered with Wells Fargo.

Mr. Owidi’s BrokerCheck report discloses two investor complaints. The most recent, filed in May 2026, alleges that as a representative of Wells Fargo, he “engaged in unauthorized trading activity.” The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 2018, alleged that as a representative of Morgan Stanley, he made misrepresentations of material facts. The complaint alleged unspecified damages and was denied by the firm.

Investors should be aware that FINRA rules, as well as other securities industry regulations, prohibit representatives like Mr. Owidi from effecting securities transactions without the permission or authorization of their customers. FINRA Rule 3260, for instance, outlines specific conditions under which brokers can make discretionary trades—that is, the execution of transactions without prior consultation with the customer. As FINRA explains in its investor resources, discretion “generally means the broker can decide at any time how much of a stock, bond or other security to buy or sell, and at what price, without customer input.” Rule 3260 prohibits brokers from exercising discretionary authority without the customer’s prior written authorization and the firm’s acceptance of the account, in writing, as discretionary. The firm’s acceptance must be “evidenced in writing by the member or the partner, officer or manager, duly designated by the member.” Representatives who engage in discretionary trading without proper authorization, or against a firm’s rules governing discretionary trading, may be held liable for damages or even subject to disciplinary action by FINRA and/or the Securities and Exchange Commission.

According to the Financial Industry Regulatory Authority, Amad Owidi holds 18 years of securities industry experience. Based in Houston, Texas, he has been registered as a broker and an investment advisor with Raymond James & Associates since February 2026. His past registrations include Wells Fargo, Morgan Stanley, and Merrill Lynch. 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 the District of Columbia, Florida, Missouri, Montana, Ohio, and Texas. (Information current as of June 28, 2026.)

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