Adam Marquardt, formerly with Wells Fargo, Barred by FINRA
ROCHESTER, MINNESOTA
Are you a former customer of financial advisor Adam Marquardt of Rochester, Minnesota? Our securities arbitration law firm is reviewing allegations made by FINRA, the Financial Industry Regulatory Authority, against Adam Marquardt of Wells Fargo. In July 2022, FINRA barred Marquardt from the securities industry after he failed to respond to an investigation.
In particular, it was alleged that Adam Marquardt deposited money into client accounts in part to cover financial losses suffered by the clients, without knowledge or authorization by his brokerage firm, Wells Fargo. Marquardt “voluntarily resigned” from Wells Fargo in July 2020 regarding these allegations.
Adam Marquardt had been licensed with Wells Fargo from 2008 to July 2020. He then became affiliated with Cetera Advisors, up until July 2022. Marquardt worked in offices in Rochester, Minnesota. Marquardt was also named in a 2017 customer complaint, in which Wells Fargo was required to pay $115,000 to a customer for allegations regarding energy stocks and mutual funds.
Brokerage firms have an obligation to follow all FINRA rules as a FINRA member. This includes FINRA Rule 3110, which requires the firm to reasonably supervise the activities of its representatives like Adam Marquardt. If Wells Fargo fails to sufficiently supervise the activities of its advisors, it could make them responsible for Marquardt’s conduct.
Israels & Neuman PLC is an investment fraud law firm that represents investors all over the U.S. in FINRA arbitration. We have offices in Seattle and Denver, and our attorneys have represented investors in Minnesota as well.
View Marquardt, a BrokerCheck 7.22.22