UPDATE! J. GORDON CLOUTIER Barred – Frisco, TX
J. Gordon Cloutier, formerly with Wells Fargo, Barred by FINRA
Have you lost money with financial advisor J. Gordon Cloutier of Frisco, Texas? We are continuing our investigation into allegations made by FINRA, the Financial Industry Regulatory Authority, against J. Gordon Cloutier, Jr. FINRA previously filed a complaint against Cloutier, arguing that he failed to respond to a FINRA investigation. In August 2018, FINRA barred Cloutier for his failure to respond to the complaint. FINRA was investigating Cloutier for allegations that he solicited a customer of his former brokerage firm, Wells Fargo, for a loan. Generally, financial advisors cannot borrow money from their customers.
Gordon Cloutier was a financial advisor and registered representative of Wells Fargo from April 2009 to October 2016. He worked at a branch office in Frisco, Texas. Cloutier was also terminated by Wells Fargo for this alleged conduct.
Brokerage firms like Wells Fargo have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Texas and the Dallas-Fort Worth area. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Wells Fargo.
Click to view: Cloutier, Gordon FINRA Order
Click to view: Cloutier, Gordon FINRA Complaint
Click to view: Cloutier, Gordon BrokerCheck 5.1.18
If you lost money with Gordon Cloutier or Wells Fargo, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.