National investment loss lawyers KlaymanToskes is investigating Marc Spiegel (CRD# 844632) of Wells Fargo’s Spiegel & Fine Financial Consulting Group, in connection with the filing of a customer complaint alleging that the customer was taken advantage of by her representative in connection with his recommendation of an annuity investment.
According to FINRA BrokerCheck, Marc John Spiegel has been registered as a broker/investment advisor with Wells Fargo since 2003 in Woodland Hills, CA. Spiegel was previously named in a customer complaint that was settled in favor of the investor.
Investors that suffered losses with Marc Spiegel and/or any other advisor at Wells Fargo are encouraged to contact attorney Lawrence L. Klayman, Esq., for a free consultation to discuss recovery options at 888-997-9956 or lawrence@klaymantoskes.com. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to FINRA BrokerCheck, Marc Spiegel has two customer complaints. The most recent complaint alleged damages to the customer’s Wells Fargo account due to the customer’s allegations that she was taken advantage of by her representative. The complaint related to an investment in an annuity, which the customer is seeking to surrender without incurring a 6% penalty.
Although the complaint was denied by the firm, investors should be aware that the denial of a customer complaint by a brokerage firm does not mean that the complaint does not have merit. It is in a brokerage firm’s best interest to deter customers from filing complaints with FINRA. Investors may still pursue a FINRA arbitration claim to recover their investment losses by contacting KlaymanToskes.
Spiegel has one additional customer complaint disclosed, which was settled in favor of the investor for $10,000. The customer alleged dissatisfaction with a global bond fund that resulted in investment losses.
Brokers and financial advisors must consider an investment’s risk, ensure that they do not misrepresent material facts, and/or overconcentrate the customer’s portfolio in unsuitable investments. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making unsuitable investment recommendations.
The violations discussed above each provide a basis for liability in a FINRA arbitration claim. FINRA arbitration is a more cost-effective process for investors, often occurring with increased speed and efficiency over a court proceeding. To learn more about additional securities violations, see our account activity violations page.
Former and current customers of Marc Spiegel who sustained losses at Wells Fargo are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free consultation. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com