SCOTTSDALE, AZ
Have you lost money with financial advisor Scott W. Reed of Scottsdale, Arizona? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority. FINRA barred Reed after he was allowed to “voluntarily resign” by his former brokerage firm, Wells Fargo. Reed allegedly raised $3.5 million in a software and web development company without receiving permission from Wells Fargo.
Scott Reed was a financial advisor and registered representative of Wells Fargo from April 2016 to April 2020. He worked at branch offices in Scottsdale, Arizona.
Brokerage firms like Wells Fargo have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Phoenix, Arizona; Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Arizona. Attorney Aaron Israels is licensed to practice law in Arizona. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Wells Fargo.