Wells Fargo Sued For Unsuitable Direct Investments

Regan Allen Rohl of Fargo North Dakota a stockbroker currently employed by Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $35,000.00 in damages based upon allegations that (1) direct participation program interests or limited partnership interests recommendations were not suitable given the customer’s goals or risk tolerance and (2) unauthorized trades were effected in the customer’s account by Rohl during the time that he was associated with Wells Fargo Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00891 (Aug. 12, 2019).

FINRA Public Disclosure confirms that Rohl has been identified in fifteen more customer initiated investment related disputes pertaining to accusations of his misconduct while employed with securities broker dealers including Salomon Smith Barney, Morgan Stanley and Wells Fargo Advisors. Specifically, a customer initiated investment related arbitration claim in regard to Rohl’s activities was settled for $15,000.00 in damages founded on allegations that the customer was provided bad investment advice about energy sector investments; and the customer’s account was over-concentrated in those investments. FINRA Arbitration No. 17-02191 (Aug. 11, 2018).

Rohl is the subject of another customer initiated investment related arbitration claim in which the customer requested $3,000,000.00 in damages supported by accusations of Rohl giving the customer poor investment advice concerning master limited partnerships commencing in 2011; and Rohl trading in the customer’s investment account without the customer’s knowledge or consent. FINRA Arbitration No. 18-03050 (Sept. 6, 2018). Another customer initiated investment related arbitration claim involving Rohl’s conduct was resolved for $68,500.00 in damages based upon allegations that master limited partnership transactions were in no way suitable for the customer; and transactions were executed in the customer’s Wells Fargo Advisors account without permission. FINRA Arbitration No. 17-00782 (Oct. 2, 2018).

Rohl is also referenced in a customer initiated investment related arbitration claim which was settled for $375,000.00 in damages founded on accusations that Rohl sold investments including direct participation program interests or limited partnership interests which were wholly unsuitable and which caused the customer losses. FINRA Arbitration No. 18-00562 (Oct. 11, 2018).

On October 29, 2018, another customer filed an investment related complaint concerning Rohl’s conduct where the customer sought damages estimated to exceed $5,000.00 supported by allegations that misrepresentations were made to the customer concerning the safety and security of the limited partnership interest investments that Rohl sold during the period in which he was associated with Wells Fargo Advisors. In addition, Rohl is the subject of a customer initiated investment related arbitration claim which was resolved for $296,500.00 in damages based upon accusations that unauthorized trades were effected by the stockbroker; and the customer was placed in oil and gas investments which failed to be suitable for the customer. FINRA Arbitration No. 19-00087 (Aug. 10, 2019).

Rohl has been registered with Wells Fargo Advisors since March 10, 2011.