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Joe Gainer: FINRA Bars Ex-Wells Fargo Advisor

Former Marianna, Florida financial advisor Joe Gainer (CRD# 4517367) was recently sanctioned and barred from acting as a broker in connection with allegations involving a gift from a client. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with Wells Fargo Clearing Services.

Mr Gainer’s BrokerCheck report discloses the recent FINRA sanction against him. Filed in December 2023, it alleged that as a representative of Wells Fargo Clearing Services, he refused to provide on-the-record testimony that FINRA requested as part of its investigation into whether he “failed to disclose a position of trust in relation to, and receiving a $3 million dollar gift from, one of his firm clients.” According to a Letter of Acceptance, Waiver, and Consent (No. 2022075621801), FINRA Rule 8210 allows the regulator to require persons under its jurisdiction to provide testimony with respect to matters under its investigation; it also requires such persons to comply with requests for testimony. Without admitting or denying FINRA’s findings, Mr. Gainer consented to a permanent bar from registering with any FINRA member firm in any capacity.

A second disclosure on Mr. Gainer’s BrokerCheck report concerns an investor complaint against him. Filed in 2020, it alleged that as a Wells Fargo representative, he recommended an unsuitably aggressive mutual fund investment. The complaint alleged damages of $221,630 and was denied by the firm.

According to the Financial Industry Regulatory Authority, Joe Gainer holds 19 years of securities industry experience. He was most recently registered as a broker with Wells Fargo Clearing Services in Marianna, Florida from 2016 until 2022. His registration history includes SunTrust Investments (Panama City, Florida; 2013-2016), Hancock Investment Services (Tallahassee, Florida; 2010-2013), LPL Financial Corporation (Panama City, Florida; 2006-2010), Edward Jones (Panama City, Florida; 2005-2006), Merrill Lynch (New York, New York; 2003-2005), and Edward Jones (St. Louis, Missouri; 2002). 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 Combined State Law Examination, or Series 66. He is currently barred from acting as a broker or otherwise associating with a broker-dealer firm. (Information current as of January 18, 2024.)

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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