Advisor Alert: Our Attorneys Are Investigating Adam Thomas Marquardt For Investment Fraud
Did You Lose Money Because of Adam Marquardt?
Filed: November 15, 2023
Adam Marquardt has been the subject of two (2) regulatory events, two (2) termination events, and four (4) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Adam Thomas Marquardt.
Who Is Adam Thomas Marquardt?
- Advisor Name: Adam Thomas Marquardt
- Aliases: Adam Marquardt
- CRD: 5307192
- Location: Rochester, Minnesota
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Cetera Advisors LLC, Wells Fargo Advisors Financial Network, LLC, and Wells Fargo Advisors, LLC
- Number of Known Customer Complaints: 4
- Number of Known Regulatory Events: 2
- Number of Known Termination Events: 2
- Can Adam Marquardt Be Sued: Yes, in Private Arbitration
- Can Adam Marquardt’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $530,000
- Highest Settlement: $575,000
If you have suffered investment losses by Adam Marquardt, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Adam Marquardt For Broker Misconduct
As of this publication date, Adam Marquardt has been the subject of 4 customer disputes, 2 regulatory events, and 2 termination events. Let’s review them below.
In June 2023, a complaint was filed against or in reference to Adam Marquardt by a customer of Wells Fargo Advisors Financial Network, LLC alleging that Mr. Marquardt had absconded with funds the client had intended to invest in her brokerage account. Per the customer, she lost over $44,969.82 because of Mr. Marquardt’s actions. On July 24, 2023, Mr. Marquardt settled the claim for $55,000, and some or all of this amount may have been paid by Mr. Marquardt’s employer and/or insurance carrier.
In January 2023, a FINRA arbitration was filed against or in reference to Adam Marquardt by a customer of Wells Fargo Advisors Financial Network, LLC alleging that Mr. Marquardt absconded with $530,000 of her $700,000 investment. Per the customer, she lost over $530,000 because of Mr. Marquardt’s actions. On April 19, 2023, Mr. Marquardt settled the claim for $575,000, and some or all of this amount may have been paid by Mr. Marquardt’s employer and/or insurance carrier.
In January 2023, a FINRA arbitration was filed against or in reference to Adam Marquardt by a customer of Wells Fargo Advisors Financial Network, LLC alleging that Mr. Marquardt made unsuitable investments in MLPs beginning in 2015. On April 19, 2023, Mr. Marquardt settled the claim for $190,000, and some or all of this amount may have been paid by Mr. Marquardt’s employer and/or insurance carrier.
In September 2022, Maryland initiated a regulatory action against or in reference to Adam Marquardt because his agent registration was barred in all capacities for an indefinite period of time.
In July 2022, FINRA initiated a regulatory action against or in reference to Adam Marquardt. Without admitting or denying the findings, Marquardt consented to the sanction and to the entry of findings that he refused to provide on-the-record testimony requested by FINRA in connection with its investigation into the allegations in a Uniform Termination Notice for Securities Industry Registration (Form U5) filed by his member firm stating that, at his resignation, Marquardt was under internal review for allegations that he deposited cashier’s checks into client accounts in part to cover certain clients’ investment losses without knowledge or authorization by the firm.
In July 2022, Cetera Advisors LLC terminated Adam Marquardt because of a FINRA sanction.
In July 2020, Wells Fargo Advisors Financial Network, LLC terminated Adam Marquardt for depositing cashier’s checks into client accounts in part to cover certain clients’ investment losses without knowledge or authorization by the Firm.
In March 2017, a FINRA arbitration was filed against or in reference to Adam Marquardt by a customer of Wells Fargo Advisors Financial Network, LLC alleging violations of federal securities laws, including fraud in connection with the purchase or sale of securities; violations of Minnesota Securities Act, including misrepresentations, omissions of material fact, and employment of schemes to defraud and engaging in course of business which operated as a fraud or deceit; violations of the Minnesota Consumer Fraud Act, Uniform Deceptive Trade Practices Act, False Statement in Advertisement Act, and Unlawful Trade Practices Act; breach of contract; common law fraud; breach of fiduciary duty; and negligence and gross negligence. Per the customer, he/she lost over $150,000 because of Mr. Marquardt’s actions. An arbitration panel found that Mr. Marquardt was negligent and awarded $115, 855.81 in favor of the customer.
How To File A Claim Against Adam Marquardt (previously with Cetera Advisors LLC, Wells Fargo Advisors Financial Network, LLC, and Wells Fargo Advisors, LLC) To Get Your Money Back.
If you have questions about Adam Marquardt, Cetera Advisors LLC, Wells Fargo Advisors Financial Network, LLC, Wells Fargo Advisors, LLC, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.