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Broker Alert Sean Brooks Morgan Stanley and Wells Fargo

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Timothy Sean Brooks, aka Sean Brooks
of Wells Fargo Advisors and Morgan Stanley Smith Barney
Annapolis, Maryland and throughout Florida, and Missouri
Sean Brooks was a stockbroker at major firms: Sean Brooks was at Wells Fargo Advisors, 8/2010—5/2011; prior to that at  organ Stanley Smith Barney 6/2009 through 8/2010; and Citigroup Global Markets prior to that time.  If you have account losses with Sean Brooks and any of these firms, we are ready to further investigate.
Sean Books agreed to reimburse a customer for the losses sustained in the customer’s account–a big violation of regulations for supervision.  For customers, the concern is what caused those account losses.  After the customer had complaint to him, Sean Brooks did not inform the firm of the complaint or the settlement agreement.  Brooks paid the customer $315,000.  Sean Brooks placed several discretionary transactions in the fee-based securities accounts of some customers.  Brooks did not have written authorization from his customers to place discretionary trades, and his firm had not approved the use of discretion in the accounts.  This is also a significant issue, raising real questions about the stockbrokerage firm’s supervision.  In addition, Brooks represented on some annual compliance certification questionnaires for his firm at the time that he had not exercised discretion.  In 8/7/2012 suspension and fine.
Sean Books was part of an arbitration where there was a settlement of $800,000 on a claim involving unsuitable investments and unauthorized trading.  Wells Fargo Advisors discharged him for the payment in April 2011, but as is all too typical of the major stockbrokerage firms, has not investigated his customer accounts where there were substantial losses.
Sean Brooks was part of another arbitration filed which was settled for $185,000 according to the public information.  That arbitration included unsuitable investment recommendations, and unauthorized trading by the stockbroker.  Too a customer, if there are substantial losses in an account you had with Sean Brooks, whether it was at Wells Fargo Advisors or Morgan Stanley Smith Barney, or Citigroup Global Markets, it is important to get a professional review of those losses.  The brokerage firms involved will not go back and tell you that they later terminated the broker, or that there was an arbitration settlement of $800,000 or even $185,000: it is up to you, the customer with account losses, to make something happen.

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