Last Updated: January 2025 (Corpus Christi, TX)
John Nelson Investigation Summary
Here’s what you need to know about Corpus Christi, TX, stockbroker Joanna Westcott:
- Name: John Richard Nelson
- Current Employer: Independent Financial Group, LLC
- Prior Employers:
- Wells Fargo Clearing Services, LLC (1998–2024)
- Principal Financial Securities, Inc. (1987–1998)
- Rotan Mosle Inc. (1983–1987)
- Function: Stockbroker / Financial Advisor
- Aliases: John Nelson
- Primary Location: Corpus Christi, TX
- CRD Number: 1084135
- Can John Nelson Be Sued in FINRA Arbitration: Yes
- Sanctioned by FINRA: No
- Discharged by a prior employer: Yes
If you’ve sustained damages from Mr. Nelson, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With John Nelson as Your Stockbroker?
John Nelson has faced multiple disclosure events over the course of his career, including allegations of unauthorized trades and misuse of communication channels. Significant incidents include:
- Customer Dispute – Denied by Firm
- Allegations: A client alleged that two purchases of Payless Cashways debt instruments in 1995 were unauthorized and unsuitable, seeking damages of $36,810.
- Status: Denied on May 15, 1998.
- Employment Termination
- Firm: Wells Fargo Clearing Services, LLC
- Date: October 30, 2024
- Reason for Termination: Failure to reconfirm a client trade, taking trading instructions from unauthorized third parties, and conducting business using off-channel communication systems.
Allegations of Broker Misconduct Against John Nelson
Customers and regulatory filings have alleged the following misconduct against John Nelson:
- Unauthorized Trades: Claims that trades were executed without proper client authorization.
- Off-Channel Communication: Conducting business outside of approved communication channels, a potential violation of FINRA Rule 4511 (Recordkeeping).
These actions suggest possible breaches of FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade), which requires ethical conduct by financial professionals.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by John R. Nelson, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.