10.0David P Neuman
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UPDATE: RICHARD WESSELT of Sterne Agee BARRED – Collegeville, PA

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10
Nov

UPDATE: RICHARD WESSELT of Sterne Agee BARRED – Collegeville, PA

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UPDATE:  RICHARD WESSELT of Sterne Agee BARRED – Collegeville, PA

Richard Wesselt, formerly with Sterne Agee Financial Services and O.N. Equity Sales Company, Barred From Securities Industry

Have you lost money with financial advisor Richard M. Wesselt, formerly with Sterne Agee Financial Services, from Collegeville, Pennsylvania?  We are continuing to look into allegations made by FINRA (the Financial Industry Regulatory Authority) against Wesselt. Wesselt was barred from the industry regarding allegations that he induced customers to withdraw money from variable annuities, pay surrender charges, and then sell them life insurance policies. 

We have also looked into allegations of former customers related to Richard Wesselt. Richard Wesselt’s BrokerCheck report, a public record maintained by FINRA (the Financial Industry Regulatory Authority), states that Wesselt has been the subject of nine customer complaints and FINRA arbitration lawsuits.  Many of the arbitration complaints allege misrepresentations related to insurance policies and annuities.

Richard Wesselt was a registered representative of Sterne Agee Financial Services from May 2002 to March 2014.  He was also registered with O.N. Equity Sales Company (also known as ONESCO) from March 2014 to September 2017, and with Fortune Financial Services from September 2017 to the present.  He worked at a branch office in Collegeville, Pennsylvania.

Brokerage firms like Sterne Agee Financial 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; Phoenix, Arizona; Seattle, Washington; and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Pennsylvania. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including, O.N. Equity Sales Company and Fortune Financial Services.

If you lost money with Richard Wesselt or Sterne Agee Financial, please CONTACT US at 720-599-3505 or 206-795-5798 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.
10.0David P Neuman

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