Wells Fargo Broker Jeffrey Eiler Receives Numerous Customer Disputes

March 25, 2020 Author: Brian Levin

Should you bring a claim against your stockbroker, banker, or other financial professional? 

Jeffrey Alan Eiler (CRD#: 1028716) is a registered Broker and Investment Advisor. According to publicly available information from FINRA, Mr. Eiler has over 38 years of experience. Over the course of his career, he has had numerous customer disputes filed against his employers involving his conduct. With the exception of one claim in 1995, all other disputes have been filed during his employment with Wells Fargo.

The first customer dispute, which was ultimately settled for $60,000, alleged that Mr. Eiler over-concentrated the client’s portfolio and made unsuitable recommendations. In 2015 several allegations were made that Mr. Eiler was negligent in his handling of accounts and engaged in overconcentration, unauthorized trading, misrepresentation, excessive trading, and breach of contract. Several of the customer disputes were denied, but one was settled in the amount of $65,000.

Since 2016, Mr. Eiler has had five customer disputes filed against his employer regarding his conduct, including:

  • July 2016 – a customer alleged that Mr. Eiler made unsuitable investment recommendations from 2006 to 2016. The dispute was settled for $50,000.
  • November 2016 – a customer alleged that Eiler recommended unsuitable investments from 2010 to January 2016. The dispute was settled for $14,999.
  • February 2017 – customers alleged that Mr. Eiler recommended unsuitable investments from January 1, 2011 until February 23, 2016. The dispute was ultimately settled for $20,000.
  • May 2017 – a customer alleged that Mr. Eiler “over-concentrated her portfolio in unsuitable investments.” The customer dispute was settled for $80,000.
  • October 2018 – a customer alleged that their portfolio was “over-concentrated in an unsuitable bond fund.” The dispute was settled for $135,000.

Stockbrokers and investment professionals have the duty to make suitable recommendations and to ensure that an investor’s portfolio is not overconcentrated in a single sector, single security, or small number of securities. If your financial professionals make unsuitable investment recommendations, they may be liable to you for resulting damages.

If you experienced investment losses because of your stockbroker’s, banker’s, or investment advisor’s negligence or intentional wrongdoing, you might be entitled to compensation through a FINRA arbitration. Attorney Brian Levin has recovered millions on behalf of victims of investment fraud.

Contact Levin Law today at 305.402.9050 to schedule a free case consultation or contact us at contact@levinlawpa.com. Most cases are handled on a contingency basis, meaning that you would not be responsible for paying attorneys’ fees unless we recover money on your behalf.

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