Soreide Law Group has filed arbitrations on behalf of 8 investors against Matthew Bell and WFG Investments for Bell's alleged recommendations of high risk investments such as Location Based Technologies, Inc. (Ticker LBAS) and CodeSmart Holdings, Inc., (Ticker ITEN). WFG INVESTMENTS, INC. is a domestic corporation maintaining its headquarters at 2711 N. Haskell Ave., Suite 2900, Dallas, TX 75204. WFG INVESTMENTS, INC. is also registered with the United States Securities and Exchange Commission and is a licensed securities broker-dealer. WFG INVESTMENTS, INC. is a member of the Financial Industry Regulatory Authority.
Matthew Bell has racked up no less than sixteen (16) reported customer complaints on his Form U4 which is where all customer complaints are reported. The complaints, all resulting in awards or settlements, include but are not limited to: breach of fiduciary duty, breach of contract, deceptive trade practices, fraud, trading in penny stocks and unsuitability. The significance of BELL'S sixteen customer complaints and two terminations is underscored in FINRA NOTICE to MEMBERS 03-49. In 2003, FINRA conducted a review of the CRD's of all 663,000 registered representatives, only 2,751 (.41%) had been the subject of (3) or more customer complaints. In other words, BELL'S customer complaints rank him in the top one-hundredth percentile of all registered representatives for customer complaints.
BELL also touted many penny stocks such as SOUL, LBAS, ITEN, TWER and private placements including Maryland Proton Center, Virtus Student Housing, LP, Pamaz Scientific to name a few widely inappropriate commission laden investments for risk adverse investors. BELL was also affiliated with Alimo Asset Advisors, Williams Financial Group and WFG Investments.
If you were a customer of Matthew Bell call the Soreide Law Group for a free consultation. There is no fee unless there is a successful recovery and Soreide Law Group advances all costs. Call (888) 760-6552 or visit us on the web at www.SecuritiesLawyer.com . Representing Investors Nationwide before FINRA.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.