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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.)
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