Stan Smith: $250K Complaint Against Wells Fargo Advisor

Burlington, North Carolina (CRD# 1317559) allegedly provided unsuitable investment advice to a client, according to a recent investor complaint. Records maintained by the Financial Industry Regulatory Authority indicate that he is currently a broker and an investment advisor with Wells Fargo Clearing Services.

Mr. Smith’s BrokerCheck report discloses one investor complaint against him. Filed in April 2023, it alleges that as a representative of Wells Fargo Clearing Services, he recommended an unsuitable investment strategy. (More information about FINRA’s suitability rule, which requires brokers to recommend investment strategies that are appropriate for a customer’s background and needs, is available here.) The pending complaint alleges damages of $250,000.

According to the Financial Industry Regulatory Authority, Stan Smith holds 38 years of securities industry experience. Based in Burlington, North Carolina, he has been a broker and an investment advisor with Wells Fargo Clearing Services since 2008. He is also registered with the firm’s office in Greensboro, North Carolina. His past registrations include AG Edwards & Sons (Burlington, North Carolina; 1998-2008), JC Bradford & Company (New York, New York; 1988-1998), Scott & Stringfellow (Richmond, Virginia; 1998), Sherwood Capital (1987-1988), and First Jersey Securities (1984-1987). His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; 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 licensed in Alabama, Florida, Georgia, Massachusetts, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington. (Information current as of May 15, 2023.)

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