Tr?id=566623520170033&ev=PageView&noscript=1

Wells Fargo Ordered to Pay $1.44 Million to Former Florida Advisor

Posted on October 28th, 2024 at 2:26 PM
Wells Fargo Ordered to Pay $1.44 Million to Former Florida Advisor

From the desk of Jim Eccleston at Eccleston Law

A FINRA arbitration panel has ordered Wells Fargo to pay $1.44 million in compensatory damages to Harry Pappas Jr., a former advisor based in Florida. He alleged that Wells Fargo wrongfully terminated him and had breached a succession agreement, withholding deferred pay and a loyalty bonus. As reported by AdvisorHub, Pappas sought more than $4.57 million in damages.

Wells Fargo terminated Pappas in September 2022, citing unmet expectations regarding colleague interactions, though the issues were unrelated to compliance or sales practices. The FINRA arbitrators denied Pappas’ request to expunge the termination allegations from his CRD.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

Hiring Eccleston Law has been one of the best career decisions I have made and this "investment" to maintain my sterling regulatory record has been returned many times over.  If you are in a situation where you've been unfairly accused, don't hesitate to talk with Eccleston Law. They are the best.

Thomas C.

LATEST NEWS AND ARTICLES

1792083058 Law
October 15, 2026
SEC Warns Firms to Improve Private Asset Valuation and Disclosures

The Securities and Exchange Commission (SEC) is pressing financial firms to take greater care when valuing private assets as liquidity tightens and investor redemption requests increase, according to AdvisorHub.

1791996515 Law
October 14, 2026
FINRA Study Finds Advanced Investment Knowledge Does Not Eliminate Fraud Risk

Research using the FINRA Investor Education Foundation's 2024 National Financial Capability Study found that fewer than one in five investors with non-retirement investments demonstrate advanced investment literacy.

1791918358 Law
October 13, 2026
LPL Financial Faces Investor Claims Tied to Former Broker's Outside Activities

LPL Financial faces at least nine pending investor claims involving former El Paso, Texas broker Michael C.