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Scott Andersen of Wedbush Securities Sued for Allegedly Stealing Client Funds

Scott AndersenScott Andersen (CRD#: 4412679) is a registered representative with Wedbush Securities (CRD#: 877) who serves as Vice President, Investments at Wedbush Securities in Roseville, California. He is involved in a pending civil complaint for conversion and fraud filed on February 2, 2019, according to his BrokerCheck report accessed on August 12, 2019. This complaint was followed by a customer dispute, also alleging conversion and fraud, filed on May 31, 2019. The client is requesting $400,000 in damages.

In his employee profile, Scott Andersen writes:

As a Wedbush Financial Advisor, I am dedicated to serving my clients and the community. I believe my clients come first and work to help protect their financial success. With many years of experience in the securities industry, I am committed to using my experience and knowledge to educate clients to help them make informed investment decisions. I also develop personalized investment strategies, to assist my clients in reaching their short and long-term financial goals. Whether you would like to build personal wealth, plan for retirement, minimize estate taxes or prepare for the tuition costs of your children (or grandchildren), I will help you clearly define your investment objectives and risk tolerance to determine an asset allocation strategy designed to help you achieve your financial goals.

An 18-year veteran of the securities industry, he is an investment advisor and Chartered Retirement Planning Counselor who received the Sacramento Five Star Wealth Manager Award from 2013-2019.

On his employee profile, he writes that he specializes in:

  • annuities
  • insurance
  • asset management
  • mutual funds
  • retirement planning
  • stocks
  • bonds
  • wealth management

Many brokers push annuities because they generate large commissions for brokers. But annuities, particularly variable annuities, are complex investments that combine features of insurance products and securities products. They are not suitable for all investors. Annuities contain mutual funds, so it may be more prudent to invest in mutual funds directly, rather than find that your money is tied up in an annuity (which carries heavy fees) until you reach 57 ½ years old.

Scott Andersen previously worked for Morgan Stanley DW Inc. (CRD#: 7556) in Auburn, California. If you’ve done business with Scott Andersen and have questions about your investments, you may benefit from contacting a securities attorney. The experienced securities attorneys of Fitapelli Kurta, Jonathan Kurta and Marc Fitapelli, have been fighting for the rights of investors for over ten years. Call (877) 238-4175 or email info@fkesq.com for your free consultation.

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