Advisor Alert: Our Attorneys Are Investigating Mark Nicholas Wesley For Investment Fraud
Did You Lose Money Because of Mark Wesley?
Filed: January 24, 2024
Mark Wesley currently has five (5) pending judgment/lien events. Overall, he has been the subject of one (1) regulatory event, one (1) termination event, eight (8) customer complaints, and five (5) judgment/lien events. 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 Mark Nicholas Wesley.
Who Is Mark Nicholas Wesley?
- Advisor Name: Mark Nicholas Wesley
- Aliases: Mark Wesley
- CRD: 2511569
- Location: Independence, Ohio
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Ameriprise Financial Services, LLC and IDS Life Insurance Company
- Number of Known Customer Complaints: 8
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 1
- Number of Known Judgment/Lien Events: 5
- Can Mark Wesley Be Sued: Yes, in Private Arbitration
- Can Mark Wesley’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $550,000
- Highest Settlement: $55,000
If you have suffered investment losses by Mark Wesley, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty 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 Mark Wesley For Broker Misconduct
As of this publication date, Mark Wesley has been the subject of 1 regulatory event, 1 termination event, 8 customer disputes, and 5 judgment/lien events. Let’s review them below.
In May 2021, a complaint was filed against or in reference to Mark Wesley by a customer of Ameriprise Financial Services, LLC alleging that the Real Estate Investment Trusts sold to the client from November 2007 through February 2009 were not suitable. Per the customer, he lost over $86,000 because of Mr. Wesley’s actions.
In November 2020, a complaint was filed against or in reference to Mark Wesley by a customer of Ameriprise Financial Services, LLC alleging that Mr. Wesley opened an annuity IRA and Roth IRA without her authorization in February 2015. Per the customer, she lost over $16,275.23 because of Mr. Wesley’s actions.
In December 2016, FINRA initiated a regulatory action against or in reference to Mark Wesley for failing to respond to FINRA request for information.
In June 2016, Ameriprise Financial Services, LLC permitted Mark Wesley to resign while under suspension for compliance policy violations related to: unauthorized trading, use of discretion in a non-discretionary account, supervision of staff and responding to supervision.
In January 2016, Mark Wesley was the subject of a civil judgment or lien in the amount of $44,883. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In April 2014, a complaint was filed against or in reference to Mark Wesley by a customer of Ameriprise Financial Services, LLC alleging that two variable annuities purchased in May 2006 and June 2011 were unsuitable. The client also stated she was not informed of the fees and expenses associated with the CNL lifestyle properties and KBS real estate investment trust (REIT) positions she inherited from her husband, purchased in April 2007 and July 2008, respectively. Per the customer, she lost over $19,385 because of Mr. Wesley’s actions.
In July 2013, a FINRA arbitration was filed against or in reference to Mark Wesley by a customer of Ameriprise Financial Services, LLC alleging that Mr. Wesley recommended unsuitable investments, to include inland American REIT and CNL lifestyle properties REIT. claimant alleges unsuitability, negligence, breach of fiduciary duty and fraud, misrepresentations and omissions, violations of FINRA conduct rules, and control person liability or negligent supervision. Per the customer, he/she lost over $197,000 because of Mr. Wesley’s actions. On September 9, 2014, Mr. Wesley settled the claim for $7,500, and some or all of this amount may have been paid by Mr. Wesley’s employer and/or insurance carrier.
In July 2013, Mark Wesley was the subject of a civil judgment or lien in the amount of $1,990,550. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In April 2013, Mark Wesley was the subject of a civil judgment or lien in the amount of $405,121. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In May 2010, Mark Wesley was the subject of a civil judgment or lien in the amount of $941. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In February 2010, Mark Wesley was the subject of a civil judgment or lien in the amount of $56. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In July 2007, a NASD arbitration was filed against or in reference to Mark Wesley by a customer of Ameriprise Financial Services, LLC alleging that Mr. Wesley recommended unsuitable investment for his retirement funds and then mismanaged the account during market decline. The claimant states that his account declined in value by $400,000 and despite the decline, Mr. Wesley recommended that he not take any action. Per the customer, he lost over $400,000 because of Mr. Wesley’s actions. On August 25, 2008, Mr. Wesley settled the claim for $45,000, and some or all of this amount may have been paid by Mr. Wesley’s employer and/or insurance carrier.
In June 2003, a complaint was filed against or in reference to Mark Wesley by a customer of American Express Financial Advisors alleging that Mr. Wesley exercised insufficient fiduciary oversight of his investments and he experienced losses as a result. Per the customer, he lost over $550,000 because of Mr. Wesley’s actions.
In February 2003, a NASD arbitration was filed against or in reference to Mark Wesley by a customer of Ameriprise Financial Services, LLC alleging that Mr. Wesley recommended his retirement funds be invested in unsuitable, high risk securities. Per the customer, he lost over $100,000 because of Mr. Wesley’s actions. On April 25, 2006, Mr. Wesley settled the claim for $55,000, and some or all of this amount may have been paid by Mr. Wesley’s employer and/or insurance carrier.
In July 2002, a complaint was filed against or in reference to Mark Wesley by a customer of American Express Financial Advisors alleging that Mr. Wesley misled the client regarding the options available to her to move her funds to government bonds. Per the customer, she lost over $8,000 because of Mr. Wesley’s actions.
How To File A Claim Against Mark Wesley (previously with Ameriprise Financial Services, LLC and IDS Life Insurance Company) To Get Your Money Back
If you have questions about Mark Wesley, Ameriprise Financial Services, LLC, IDS Life Insurance Company, 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.