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David Wells: $215K Bond Complaint Against BB Graham Advisor

Orange, California financial advisor David Wells (CRD# 1006555) has received multiple investor complaints alleging he violated securities industry rules, resulting in losses. Records provided by the Financial Industry Regulatory Authority show that he is currently registered as a broker with BB Graham & Company, having previously been registered with Kingswood Capital Partners and Accelerate Capital Group.

Mr. Wells’ BrokerCheck report discloses two investor complaints. The most recent, filed in February 2023, alleges that as a representative of BB Graham & Company, he recommended a corporate bond product that was not appropriate for the customer. The pending complaint alleges damages of $215,000.

An earlier investor complaint, filed in 1993, alleged that as a representative of Olde Discount Inc., he engaged in “various securities violations” and breached his fiduciary duty to place the customer’s interests above his own. In 1994 the complaint reached a settlement of $70,000.

According to the Financial Industry Regulatory Authority, David Wells holds 38 years of securities industry experience. Based in Orange, California, he has been a broker with BB Graham & Company since 2020. His registration history includes Kingswood Capital Partners (Costa Mesa, California; 2018-2020), Accelerated Capital Group (Costa Mesa, California; 2016-2020), Newport Coast Securities (Irvine, California; 2011-2016), Mutual Securities (Laguna Beach, California; 2007-2011), Wedbush Morgan Securities (Los Angeles, California; 2007), Brookstreet Securities Corporation (San Juan Capistrano, California; 1997-2007), Foresight Capcital Management (Clearwater, Florida; 1994-1997), San Clemente Financial Group (San Clemente, California; 1993-1994), Aegon USA Securities (Cedar Rapids, Iowa; 1992-1993), Olde Discount Corporation (Detroit, Michigan; 1986-1992), Busch Financial Group (1985-1986), and Southmark Financial Services (1983-1984). His credentials include the passage of six securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Municipal Securities Principal Examination, or Series 53; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Municipal Securities Representative Examination, or Series 52TO; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed as a broker in Arizona, California, Florida, and New York. (Information current as of April 1, 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.

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