Waddell Reed Accused Of Failure To Diversify Investments

Securities Arbitration Fraud Lawyer

Sean Lewis Dobranich of Las Nevada a stockbroker currently employed by Waddell Reed is referenced in a customer initiated investment related written complaint on April 28, 2017 in which the customer requested $25,000.00 in damages founded on allegations that (1) Dobranich over-concentrated the customer’s managed account in inappropriate securities (2) Dobranich neglected to sell the customer’s AAPL stock according to the customer’s investment instructions and (3) Dobranich neglected to communicate with the customer in regard to the customer’s account transactions.

Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Dobranich has been identified in two additional customer initiated investment related disputes containing accusations of Dobranich’s violative conduct during the time that he was associated with Wells Fargo Advisors LLC. Particularly, a customer initiated investment related arbitration claim concerning Dobranich’s activities was settled for $20,000.00 in damages based upon allegations that Dobranich poorly advised the customer regarding purchases of Federal National Mortgage Association (Fannie Mae) preferred stock investments – the customer’s account had apparently been over-concentrated in those equities. FINRA Arbitration No. 08-04224 (Nov. 16, 2009).

Subsequently, a customer initiated investment related arbitration claim involving Dobranich’s conduct was resolved for $14,500.00 in damages supported by accusations that investment recommendations made to the customer were not suitable, and misrepresentations had been made to the customer concerning real estate investment trusts. FINRA Arbitration No. 13-01480 (June 3, 2014).

FINRA Public Disclosure also reveals that Dobranich was terminated from his prior brokerage firm employer, Banc of America Investment Services, Inc., founded on allegations that Dobranich impermissibly placed customer signatures on account documentation.

Dobranich has been registered with Waddell Reed since April 23, 2015.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.

National Practice. Contingent Fee. Confidential Free Consultation. (877) SEC-ATTY