Andrew Wilkinson's adviser was supposed to help him manage the $430,000 he inherited from his great grandfather. Instead she recommended an imprudent investment strategy that earned fees and commissions for her company but wrecked his inheritance, Wilkinson, a former Wells Fargo client, claimed in a FINRA arbitration proceeding against the bank.
The three arbitrators sympathized with his complaint, ordering Wells Fargo to pay Wilkinson $74,000 in damages and $25,000 in legal fees.
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