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.
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