Wells Fargo Advisor Jose Antonio Vidal faces customer allegations of making unsuitable investments in leveraged exchange traded funds (ETFs)
The Sonn Law Group has filed a FINRA arbitration claim on behalf of their client, a couple with seven children, against Wells Fargo advisor Jose Vidal. Mr. Vidal invested the couple’s hard-earned savings in risky leveraged exchange traded funds (ETFs) and inverse leveraged ETFs. The ETFs in which Vidal concentrated the couple’s investments were so bad that Wells Fargo, Vidal’s employer, admitted that they stopped selling them to their clients.
But by that time, the damage to the client had already been done, with the unsuitable investments resulting in hundreds of thousands of dollars in losses.