Scott Reed, Broker for First Financial Equity, Resigns from Wells Fargo Following Allegations of Selling Away

Reed was also named in a customer dispute alleging unsuitable recommendations.

The Sonn Law Group is investigating allegations that Scott Reed recommended unsuitable investments. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

scott-reed-resigns-following-allegationsScott Reed (CRD#: 3007033) is currently registered as a broker and a financial adviser with First Financial Equity in Scottsdale, AZ. Previously, Reed was employed with Wells Fargo from 2016 until 2020. 

What is Selling Away?

Selling away is when a broker solicits a client to purchase securities not held or offered by the executing brokerage firm. Brokerage firms generally have lists of approved products that can be offered by their brokers to clients of the firm. These approved products have usually undergone due diligence screenings and have been identified by the firm’s screening personnel as solid products.

Reed has four disclosures on his BrokerCheck report.

April 2020 Employment Separation After Allegations

March 2020 Customer Dispute

December 2017 Customer Dispute

May 2010 Customer Dispute

Contact Us Today

The Sonn Law Group is currently investigating allegations that Scott Reed made unsuitable investment recommendations. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.