Fitapelli Kurta is investigating complaints against Wunderlich Securities, Inc. Wunderlich is a FINRA member and registered broker dealer. It is headquarter in Memphis, Tennessee and currently employs 310 registered individuals. Wunderlich Securities has a history of regulatory and customer complaints. We are investigating new complaints from customers of the firm.
The U.S. Securities and Exchange Commission and Wunderlich Securities Inc. entered into a settlement agreement in 2011 in connection with an SEC complaint. The SEC Complaint alleged that the firm overcharged clients on commissions and other fees. Wunderlich Securities agreed to pay in excess of $500,000 to settle the matter with the SEC. A copy of the pleadings can be found here.
In June, 2014, Wunderlich consented to a FINRA censure and fine in the amount of $108,343 for selling unregistered securities. According to FINRA, between December 2008 and January 2010 the firm facilitated the sale of approximately 271 million unregistered securities in violation of various FINRA and SEC rules.
In 2011, former Wunderlich Securities broker, Cameron Grizzle, was barred by FINRA for improper use of $35,000 of investor funds. In addition, Cameron Grizzle failed to cooperate with FINRA’s investigation of this behavior, which itself constituted an independent violation of FINRA rules.
Between April 2011 and June 2011, Robert F. LaLonde, a former Wunderlich Securities broker placed sales of annuities outside of his firm. These sales generated $38,023 in commissions for the broker. As a result of this activity, Mr. LaLonde was fined and suspended by FINRA for four months.
In October 2013, William Caulkins, a former Wunderlich broker was fined and suspended by FINRA for executing 649 unauthorized trades in customer accounts. Executing unauthorized trades is a violation of both FINRA and NASD rules.
If you or someone you know lost money investing with Wunderlich Securities, contract us today. We will evaluate your complaint for free. Do not delay.