Last Updated: April 2024 (San Diego, CA)
Jonathan Bourgeois Investigation Summary
Here’s what you need to know about San Diego, CA, stockbroker Jason Bourgeois:
- Name: Mr. Jonathan Bryan Bourgeois
- Current Employer: Wells Fargo Clearing Services, Wells Fargo Advisors (RIA)
- Previous Firms: Wells Fargo Investments
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Jonathan Bourgeois
- Primary Location: San Diego, CA
- CRD 5757664
- Can Jonathan Bourgeois be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Pending Customer Dispute Seeks Damages of $4,159,826
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Jonathan Bourgeois As Your Stockbroker?
In 3/2024 a customer of Wells Fargo Clearing Services filed a FINRA arbitration alleging that Jonathan Bourgeois churned their account by trading it excessively from 2020-2023. This matter is currently pending and the customer alleges damages of $4,159,826.
[LEARN MORE]:
What is Excessive Trading (Churning)?
Churning According to U.S. Securities and Exchange Commission (SEC)
Other Investigations Involving Churning
Allegations of Broker Misconduct Against Jonathan Bourgeois
A customer of Jonathan Bourgeois has alleged the following wrongdoing in connection with the handling of customer accounts:
- Excessively traded account (Churning)
Churning & The Looper Formula
The Looper turnover rate calculates the dollar amount of purchases during a time period divided by the average account equity annualized. The 2-4-6 ‘rule of thumb’ turnover rate is often used to generally analyze trading:
- Twice a year is ‘suggestive’ of excessive trading
- Four times a year is ‘indicative’ of excessive trading
- Six times a year turnover is ‘conclusive’ of excessive trading
[LEARN MORE]: Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
[LEARN MORE]: FINRA Rule 2111- suitability
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Jonathan Bourgeois, 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.
