Wedbush Securities Financial Advisor, Scott Andersen, Has Pending $400,000 Customer Complaint, Alleging Conversion And Fraud
Scott Andersen (CRD # 4412679) is a Financial Advisor at Wedbush Secureities in Roseville, California. Scott Andersen has been in the securities industry since 2001 and previously worked at Morgan Stanley.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in May 2019, a customer filed a complaint against Scott Andersen, alleging “conversion and fraud.” The alleged damages are $400,000 and the matter remains pending.
For a copy of Scott Andersen’s CRD, click https://brokercheck.finra.org/individual/summary/4412679#disclosuresSection
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
In addition, to the extent a Financial Advisor converts client assets during the course and scope of his employment and/or registration with the brokerage firm, that brokerage firm may be held liable for any attendant losses.
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