Waddell Reed Accused Of Failure To Diversify Investments
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.
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