{"id":1465,"date":"2014-06-13T16:22:31","date_gmt":"2014-06-13T16:22:31","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/06\/broker_headlines_former_wells"},"modified":"2022-03-11T13:12:05","modified_gmt":"2022-03-11T19:12:05","slug":"broker-headlines-former-wells","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/broker-headlines-former-wells\/","title":{"rendered":"Broker Headlines: Former Wells Fargo Broker Must Pay Back Firm $1.2M, Morgan Stanley CEO Wants to Lower Broker Compensation, & Representatives Oppose Best Interest Rules"},"content":{"rendered":"

\t\t\t\tEx-Wells Fargo Advisors Broker Must Pay Back Firm $1.2M <\/strong><\/p>\n

A Financial Industry Regulatory Authority panel says that Philip DuAmarel, a former Wells Fargo Advisor (WFC), must pay his former employer back almost $1.3 million. The panel denied his claim that the firm oversold its corporate stock plan services during his recruitment. They told him to pay back the unvested part of an upfront loan he received when he became part of Wells Fargo. <\/p>\n

DuAmarel worked for the firm for less than three years when he left in 2010 for Bank of America (BAC) Merrill Lynch<\/a>. He contended that when the firm was recruiting him he was misled about Wells Fargo’s ability to serve corporate stock plans and also regarding how much he could make for helping executives with their company’s stock trades. DuMarel’s attorney said that the broker left when it became obvious he wouldn’t be able to work with clients they way he did when he was at Citigroup (C) Global Market’s Smith Barney<\/a>. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Ex-Wells Fargo Advisors Broker Must Pay Back Firm $1.2M A Financial Industry Regulatory Authority panel says that Philip DuAmarel, a former Wells Fargo Advisor (WFC), must pay his former employer back almost $1.3 million. The panel denied his claim that the firm oversold its corporate stock plan services during his recruitment. They told him to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3751,3752,3800,3787,3836],"tags":[],"class_list":["post-1465","post","type-post","status-publish","format-standard","hentry","category-bank-of-america","category-financial-firms","category-merrill-lynch","category-morgan-stanley","category-wells-fargo"],"yoast_head":"\nBroker Headlines: Former Wells Fargo Broker Must Pay Back Firm $1.2M, Morgan Stanley CEO Wants to Lower Broker Compensation, & Representatives Oppose Best Interest Rules — Investor Lawyers Blog — June 13, 2014<\/title>\n<meta name=\"description\" content=\"Ex-Wells Fargo Advisors Broker Must Pay Back Firm $1.2M A Financial Industry Regulatory Authority panel says that Philip DuAmarel, a former Wells Fargo — June 13, 2014\" \/>\n<meta name=\"robots\" content=\"index, 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