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Read MoreWilson Saville: $1.6MM Complaint Against Barrett & Co. Broker
Providence, Rhode Island broker and investment adviser Wilson Saville (CRD# 1406756) has received a complaint alleging supervisory failures resulted in losses of more than $1 million. Financial Industry Regulatory Authority (FINRA) records show that Saville is currently a registered representative of Barrett & Company.
According to Wilson Saville’s BrokerCheck report, the complaint was filed in April 2021. It alleges that as a representative of Barrett & Company, he and the firm breached their duty “to maintain a proper supervisory system” to monitor another representative who allegedly placed the customers into unsuitable investments in 2013, “which by the time of [the representative’s] retirement from Barrett & Company in 2020 had lost significant value.” The pending complaint alleges damages of $1.6 million.
A second complaint against Wilson Saville was filed in 2014. It alleged that that the customer was placed in unsuitable investments and that supervisors at Barrett & Company failed to supervise their representatives’ conduct. In 2016 the complaint concluded in an award to the customer of $267,890.06.
Records show that Wilson Saville’s member firm, Barrett & Company, has itself received one customer complaint that concluded in an award to the customer and 14 regulatory actions. Additional information on those disclosures is available via the firm’s BrokerCheck report.
According to the Financial Industry Regulatory Authority (FINRA), Wilson Saville holds 35 years of securities industry experience. He has been registered with Barrett & Company in Providence, Rhode Island as a broker since 1986 and as an investment adviser since 2017. His previous registrations include Barrett & Company and Kidder Peabody & Company Incorporated. He has passed seven securities industry qualifying examinations: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the Limited Representative-Equity Trader Exam, or Series 55; the General Securities Representative Examination, or Series 7; the General Securities Principal Examination, or Series 24; and the Financial and Operations Principal Examination, or Series 27. He holds 17 state securities licenses. (Information current as of June 10, 2021.)
