Do You Need a FINRA Lawyer to Recover Investment Losses

Did You Suffer Investment Losses While Working With Former Fortune Financial Services Broker Richard Wesselt?

Investors May Be Able to Look To FINRA Lawyer To Recover Damages Caused By Broker Misconduct

It can be devastating to discover that the broker you entrusted to properly manage your portfolio and make investment recommendations was negligent or engaged in other actions that caused you to sustain serious investment losses. One former registered representative under scrutiny for his handling of clients’ accounts is ex-Fortune Financial Services broker Richard Michael Wesselt.

According to Richard Wesselt’s CRD, he has 28 disclosures on record. Many of these are customer disputes that were filed in Financial Industry Regulatory Authority (FINRA) arbitration, which is the forum where investors can seek to resolve disputes against their stockbrokers and broker-dealers.

In their FINRA lawsuits, the investors accused Wesselt  of:


  • Making unsuitable
  • Misrepresenting certain investments.
  • Churning in client accounts.
  • Engaging in other types of broker fraud or negligence.

A number of these investors received settlements after filing their claims. Wesselt has also been the subject of regulatory cases, including two that resulted in bars in Minnesota and Maryland and a permanent bar by FINRA in 2020. Two of the other brokerage firms where the former Pennsylvania financial advisor used to be registered include The ON Equity Sales Company and Sterne Agee Financial.)

Why Work With a Seasoned FINRA Lawyer To Pursue Your Broker Fraud Claim? 

If you too suffered significant investment losses while working with former Fortune Financial Services broker Richard Wesselt, our FINRA arbitration attorneys at Shepherd Smith Edwards and Kantas ( can help you determine whether you have grounds for an investor loss claim to pursue damages. This is not the type of legal case that you want to pursue unless you have a dedicated investment loss law firm by your side that knows how to navigate the arbitration process.

Finding evidence that proves that your broker’s actions caused your investment losses can be tough unless you know what to look for. Our brokerage firm arbitration attorneys at Shepherd Smith Edwards and Kantas have over a century’s worth of experience in the securities industry and securities law. We have the skills, knowledge, and resources to build a solid FINRA investor claim on your behalf.

Our securities arbitration law firm is known for going after the largest firms on Wall Street. Over the years, Shepherd Smith Edwards, and Kantas have recovered many millions of dollars for our clients.  Call (800) 259-9010 today.


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