A FINRA arbitration panel has ordered Wells Fargo Advisors to pay a former client more than $262,000 for failing to promptly liquidate his brokerage account, according to a recent FINRA filing and details provided by the client's lawyer.

Jeffrey Ball, a Los Angeles psychologist, gave the firm written instructions to close the account because he had decided to transfer the assets to a new adviser at another broker-dealer, Ball's attorney, Philip Aidikoff of California law firm Aidikoff, Uhl & Bakhtiari, explained.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access