Broker Investigation: Terrence Puricelli

As of November 15, 2018, broker Terrence Puricelli was barred by Financial Industry Regulatory Authority (FINRA), as reported on his Brokercheck profile.  This sanction was based on a FINRA investigation into allegations of inaccurate notes he placed on the Wells Fargo Advisors system in 2016.

Puricelli, who had worked in the financial services industry since 2000, was discharged from Wells Fargo Advisors in August of 2016 amid allegations of inaccurate notes he placed on their system.

Requests for information by FINRA staff during the investigation were initially met with cooperation. However, in September 2018, Puricelli’s lawyer communicated he would no longer provide FINRA with information. Puricelli did not admit or deny FINRA’s findings, but has consented to their order.

Disclosures on his record also indicate 3 previous customer disputes between 2008 and 2016 alleging unsuitability of fixed annuity purchases, unauthorized and unsuitable purchases in a client’s individual retirement account, unsuitable investments, and unclear commissions and charges incurred.

Based on a FINRA dispute resolution award from October 2018, Puricelli was ordered to pay Wells Fargo $308,000 in principal, interest, and legal fees after a FINRA arbitration panel ruled in favor of Wells Fargo for monies owed to them on a promissory note.  

Since his separation with Wells Fargo, Puricelli has not registered with another firm.

Get Help From Our Investment Fraud Lawyers

At Sonn Law Group, we fight for the rights and interests of investors. If you lost money because of your financial advisor’s misconduct, you may be eligible to recover financial compensation. For a free review of your case, please contact our law firm today.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

Rate this post:

1 Star2 Stars3 Stars4 Stars5 Stars
1 votes, average: 4.00 out of 5
Loading...