Mood ElAwadi: Wells Fargo Broker Fired, Faces 6-Figure Complaint

Former Orlando, Florida financial advisor Mood ElAwadi (CRD# 5319152) was recently fired by his former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with Wells Fargo Clearing Services.

Mr. ElAwadi’s BrokerCheck report discloses his termination from Wells Fargo. Filed in December 2025, the disclosure states that the firm fired him in connection with allegations that he “solicited and facilitated client investment in his outside business activity.”

A second disclosure on Mr. ElAwadi’s BrokerCheck report concerns an investor complaint against him. Filed in November 2025, it alleges that as a Wells Fargo representative, he “falsely induced” the customer to invest in a business he owned. The pending complaint alleges damages of $1.5 million.

For reference. FINRA Rule 3270 prohibits advisors like Mr. ElAwadi from engaging in unapproved outside business activities. “No registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm,” the rule states specifically, “unless he or she has provided prior written notice to the member, in such form as specified by the member.” Brokers who violate this rule may be subject to disciplinary action by their member firms or by securities industry regulators.

Investors should be aware that FINRA Rule 3280 prohibits FINRA registered representatives from engaging in private securities transactions except under certain conditions. The rule defines such transactions as “any securities transaction outside the regular course or scope of an associated person’s employment with a member.” Also known as selling away, a broker’s participation in private securities transactions is permissible in some cases, such as transactions with immediate family members for which no FINRA associated person receives selling compensation, provided the representative provides written notice to their member firm. Private securities transactions are generally also subject to an individual firm’s policies and procedures. Representatives who improperly engage in private securities transactions may subject to disciplinary actions by their member firms and/or securities regulators like FINRA.

According to the Financial Industry Regulatory Authority, Mood ElAwadi holds 18 years of securities industry experience. Most recently based in Orlando, Florida, he was last registered as a broker with Wells Fargo Clearing Services from 2019 until his firing in 2025. His registration history includes Merrill Lynch, Morgan Stanley, and Morgan Keegan & Company. He is not currently registered as a broker or an investment advisor. (Information current as of February 6, 2026.)

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