Susan Welo Allegedly Allegedly Failed to Disclose to Cetera Advisor Networks LLC that She Purportedly Provided a Loan to a Client while at a Prior Broker-dealer
Susan Welo allegedly failed to disclose to Cetera Advisor Networks LLC that she had provided a loan to a client while at a prior broker-dealer, according to an Employment after Separation Disclosure on Welo’s FINRA BrokerCheck Report under review by investor rights attorney Alan Rosca.
Said Employment after Separation After Allegations Disclosure was filed on October 3, 2016, and further alleges that Welo violated firm policies by purportedly accepting blank signed forms from clients and permitting assistant to sign representative’s name to various documents, FINRA notes.
Susan Welo also allegedly made communications with former Cetera customers in written correspondence and in spoken agreements that she would continue to manage their accounts, provide investment advice and work with them from a primary office in Fargo, North Dakota, according to Reports from the Securities Department of the State of North Dakota.
Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Susan Welo’s alleged failure to disclose a client loan. Investors who believe they may have lost money in activity related to Susan Welo’s alleged failure to disclose a client loan are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Susan Welo Subjected to a Cease and Desist Order from the The Securities Department of the State of North Dakota
Susan Welo has thus been subjected to a Cease and Desist Order from the Securities Department of the State of North Dakota, according to Reports from the Securities Department of North Dakota under review by attorney Alan Rosca.
Said Order further alleges that that Welo purportedly acted as an unregistered securities agent by handling client funds and make investment recommendations, and several complaints involve alternative investments, private placements, and direct participation products (DPPs) such as non-trade REITS’s.
Susan Welo worked at Cetera Advisor Networks LLC in Mayville, North Dakota from February 4, 2015 until October 4, 2016, and also was registered with Securities America, Inc in Mayville, North Dakota from October 7, 2009 until February 6, 2015, FINRA states.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Susan Welo’s alleged failure to disclose a client loan. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Susan Welo’s alleged failure to disclose a client loan may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at email@example.com, or through the contact form on this webpage.