SSEK investigates ex-Wells Fargo Advisor Stephen Klinger

SSEK Investigating Stephen Klinger, ex-Wells Fargo Advisor

Shepherd, Smith, Edwards & Kantas (“SSEK”), a law firm specializing in representing wronged investors, is looking into allegations against ex-broker Stephen Klinger for trading options for a client in his own account.

He then proceeded to lose the client’s money. Klinger was fired earlier this year by Wells Fargo. The client then sued Klinger and Wells Fargo. According to the broker’s CRD, his official record, Klinger then settled the lawsuit without telling Wells Fargo.

The Financial Industry Regulatory Authority Inc. (FINRA) conducted an investigation of Klinger, who was based out of Ashville, North Carolina. Klinger, who has been with Wells Fargo, or predecessor firms, since 1994, allegedly refused to cooperate with the investigation.

It is not unusual for FINRA to ban financial advisors who refuse to cooperate with its investigations into wrongdoings. According to FINRA, Klinger accepted the sanction without admitting to or denying the conclusions made by the Regulatory body.

Broker Fraud Lawyers

SSEK has experience in representing customers of financial advisors who acted inappropriately with client assets or violated industry standards and rules.

SSEK’s experience shows that before a financial advisor begins improperly trading client assets, he or she often does other things that are wrong for clients such as unsuitable investing, churning, unauthorized trading or other misconduct. Even after the bad acts are uncovered, those other wrongs often go unnoticed and are never addressed without a customer hiring a law firm like SSEK.

If you were a victim of securities fraud or negligence, it is not your fault. The experienced attorneys at SSEK are experts at FINRA arbitrations and dealing with financial advisors who have fallen under SEC scrutiny.

For the last 30 years, SSEK has filed thousands of FINRA claims on behalf of consumers wronged by unscrupulous brokers and brokerage firms. If you were a client of Stephen Klinger or suspect any sort of wrongdoing from your investment advisor, contact our office for a free, no-obligation consultation of your situation.