RBC Wealth Management Settles Massive Claim made Against James Allen Wilson accused of “Over-trading”

A prominent Indianapolis family, the Skinners, recently filed a complaint against RBC Wealth Management and its broker, James Allen Wilson, for “overtrading in many accounts.” Allegedly, the family stated that the broker overtraded the accounts from 2006 until 2015 and included purchases of closed-end funds. These carry among the highest commissions of any investment product and overtrading is when a broker executes frequent transactions to rack up commissions for himself. This is against securities rules and regulations. The complaint settled for $3.5 million. Wilson was registered with Dean Witter Reynolds from May 1981 until December 1984, Blunt Ellis & Loewi Inc. from December 1984 until March 1989, A.G. Edwards & Sons in St. Louis, Missouri from March 1989 until November 2004 and RBC Capital Markets in Indianapolis, Indiana from November 2004 until December 2015. He has six customer disputes against him, one of which is currently pending. He is currently not registered within the industry, according to his online FINRA BrokerCheck report. If you suffered losses with Mr. Wilson, we may be able to bring a claim against RBC Wealth Management in order to recover your losses. The call to us is free with no obligation. 312-332-4200.

CNBC
FOX Business
The Wall Street Journal
Bloomberg
CBS
FOX News Channel
USA Today
abc NEWS
DATELINE
npr
Contact Information