Stuart G. Dickinson and WFG Investments for Selling Away Practices

According to a disciplinary proceeding by the Financial Industry Regulatory Authority (FINRA), Stuart G. Dickinson, a broker with WFG Investments, sold limited partnership interests in ATMA, LP, a private placement securities offering that offered investors the opportunity to acquire an income stream derived from the acquisition and operation of automated teller machines (ATMs) to seven customers. He is accused of not conducting due diligence on ATMA, and as a result, his seven customers suffered a total loss of over $1 million dollars, when the underlying business scheme of the offering was a fraud. The ATMs were fictional. Private placement sales are often referred to as “selling away” and are when an advisor sells a security not offered by his brokerage firm. Selling Away is against rules and regulations in the securities industry. Investment firms can be sued if their brokers sell away.

Dickinson was registered with GEO Securities from May 1982 until October 1982, Merill Lynch in New York, New York from January 1987 until April 1992, Bear, Stearns & Co in New York from April 1992 until May 2005, Linsco/Private Ledger in Boston, Massachusetts from June 2005 until November 2005 and WFG Investments in Highland Park, Texas from October 2005 until September 2013. He has two customer disputes against him. He is not licensed within the industry.

If you invested money with Stuart G. Dickinson, please call our securities law firm at 312-332-4200 to speak to an attorney. His former firm, WFG Investments, may be held responsible for investment losses because they did not properly supervise him while he was employed there. The call is free with no obligation. We sue firms such as WFG Investments in the FINRA arbitration forum to recover money for investors.

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