Dallas, TX | December 16, 2025 – Anne Lane Davidson (CRD# 728189), a broker registered with Wells Fargo Advisors in Dallas, Texas, has a customer complaint pending on her FINRA BrokerCheck record. The complaint, filed in November 2025, alleges that Davidson failed to adequately disclose risks associated with hedge fund investments, specifically that failure to meet capital call requirements could put the client’s principal at risk. This post provides investors with factual information about Davidson’s disclosure history and connects them to publicly available FINRA records.
BrokerCheck Snapshot
Name: Anne Lane Davidson
CRD #: 728189
Firm: Wells Fargo Advisors
Location: Dallas, TX
Years in Industry: 44
Number of Disclosures: 9
Customer Complaint Against Anne Lane Davidson
Anne Davidson’s BrokerCheck record shows one pending customer complaint and multiple historical disputes:
Pending Complaint (November 2025)
Date Filed: November 14, 2025
Status: Pending
Allegations: The client alleges that Davidson did not disclose that failure to meet capital call requirements could put the client’s invested principal at risk in a hedge fund investment. The client demands a full return of their principal investment.
Product Involved: Hedge Funds
Amount Requested: Not specified (firm cannot make a good faith determination that damages are less than $5,000)
This matter remains unresolved and the allegations are contested.
Historical Customer Disputes
1. NASD Arbitration Award (1996)
Date Filed: September 27, 1995
Employing Firm: Prudential Securities, Inc.
Allegations: Omission of facts, misrepresentation, breach of fiduciary duty, and unsuitable recommendations involving mutual fund purchases
Amount Claimed: $100,000
Resolution: Award to customer
Award Amount: $41,846.25 (including $22,683 in compensatory damages, $17,265.75 in attorney’s fees, and $1,897.50 in costs)
Status: Final (September 18, 1996)
Davidson and Prudential Securities strongly disagreed with the award, noting that the claimant was described as a wealthy, sophisticated businessman with a history of buying similar mutual funds at other firms.
2. NASD Arbitration Award (1991)
Date Filed: July 10, 1989
Employing Firm: PaineWebber Jackson & Curtis
Allegations: Unauthorized trading in a trust account
Amount Claimed: $17,611
Resolution: Award to customer
Award Amount: $3,808.80 (paid jointly by PaineWebber and Davidson)
Individual Contribution: $0 (entire amount paid by firm)
Status: Final (January 29, 1991)
The client alleged unauthorized trades in the trust account. According to Davidson, the trades were liquidated except for a Western Union position that was held pursuant to the client’s instructions. The client held the Western Union stock for over six months, during which time it declined in value.
3. Settlement with Merrill Lynch (1982)
Date Complaint Received: July 1, 1982
Employing Firm: Merrill Lynch
Allegations: Customer complained that Davidson did not follow instructions in the purchase of stock (Nord Resources common stock, allegedly based on takeover rumors)
Amount Claimed: $20,000
Resolution: Settled
Settlement Amount: $18,092.08 (covering three customers)
Status: Settled
Davidson lost approximately $15,000 in commissions owed to her by Merrill Lynch as part of the settlement. According to firm records, Davidson solicited the transaction in violation of firm policy.
4. Settlement with E.F. Hutton (1987)
Date Complaint Received: February 17, 1987
Employing Firm: E.F. Hutton
Allegations: Clients complained that their funds were placed in the Hutton Investment Series Government Fund and subjected to market risk without being adequately informed about costs (deferred sales charge) or market risk
Amount Claimed: $33,104.78
Resolution: Settled
Status: Settled
Davidson paid back to E.F. Hutton the full settlement amount after deducting a pro-rata share of losses attributed to operational issues. According to Davidson, all trades were authorized and the client was a sophisticated investor.
5. Denied Complaint (2001)
Date Complaint Received: December 3, 2001
Employing Firm: Prudential Securities Incorporated
Allegations: Client alleged misrepresentations about municipal bonds purchased in the account and that the bonds were unsuitable
Amount Claimed: $17,887
Resolution: Denied
Status Date: December 17, 2001
Davidson stated she properly represented the bonds as “A” rated and did not categorize them as “extremely low risk” or “guaranteed.” She noted that the circumstances resulting in the bond decline were unforeseeable.
Pattern of Complaints / Risk Factors
While each case is unique, complaints involving unsuitable investment recommendations, inadequate risk disclosures, and unauthorized trading may indicate concerns related to proper due diligence, suitability analysis, and client communication. Investors should carefully review account statements and seek legal guidance if similar issues occurred in their accounts.
Regulatory Action Against Anne Lane Davidson
In addition to customer complaints, Davidson has one final regulatory action on her record:
NASD Consent Order (1988)
Date: November 7, 1988
Docket Number: TEX-631-AWC
Employing Firm When Violation Occurred: Merrill Lynch
Allegations: From approximately June 1, 1982, through February 28, 1983, Davidson engaged in private securities transactions outside the regular course or scope of employment with Merrill Lynch and PaineWebber without prior written notification to said firms, in violation of Article III, Section 1 of the NASD Rules of Fair Practice.
Sanctions: Censure and $17,500 fine
Resolution: Consent (without admitting or denying the allegations)
Status: Final
The fine was paid on November 18, 1988.
Employment Separations
Davidson’s record includes two employment terminations following allegations:
1. Shearson Lehman (1992)
Termination Date: May 2, 1992
Termination Type: Discharged
Reason: Violation of firm policy regarding access and use of proprietary information (Rolodex)
2. Merrill Lynch (1982)
Termination Date: September 15, 1982
Termination Type: Discharged
Reason: Davidson did not follow instructions in the purchase of stock and violated firm procedures by soliciting orders in a stock the firm did not follow (Nord Resources), mismarking order tickets to indicate trades were unsolicited, and failing to respond forthrightly when questioned about the trades.
Can Investors Recover Losses?
Investors who were recommended unsuitable or high-risk investments may be entitled to recover losses through FINRA arbitration. Patil Law, P.C. has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases. We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you.
About FINRA Arbitration
FINRA arbitration is a streamlined dispute resolution process for securities-related claims. It offers a faster, more cost-effective alternative to traditional court litigation. Most cases are resolved within 12-16 months. Claims generally must be filed within six years of the incident.
Related Brokers and Firms
Investors who have concerns about their experiences with Wells Fargo Advisors may wish to review other complaints involving the firm. Additional resources include information about unsuitable investments, variable annuity fraud, and failure to supervise.
Frequently Asked Questions
What is the complaint against Anne Lane Davidson?
The pending complaint alleges that Davidson failed to adequately disclose that failure to meet capital call requirements in a hedge fund investment could put the client’s principal at risk. The client is demanding a full return of their principal investment. This matter is pending and the allegations are contested.
Can investors recover losses involving Wells Fargo Advisors?
Yes, investors who have suffered losses due to broker misconduct, unsuitable recommendations, or other violations may be entitled to recover losses through FINRA arbitration. Patil Law, P.C. represents investors nationwide in securities arbitration claims and provides free consultations to evaluate potential cases.
What is FINRA arbitration?
FINRA arbitration is a dispute resolution forum specifically designed for securities-related claims between investors and brokers or brokerage firms. It is typically faster and less expensive than traditional litigation. An arbitration panel reviews evidence and testimony before issuing a binding decision. Most investor-broker disputes are resolved through this process.
What does “unsuitable investment” mean?
An unsuitable investment is one that does not align with an investor’s financial situation, investment objectives, risk tolerance, or investment experience. Brokers have a regulatory obligation to recommend only investments that are suitable for their clients. Unsuitable investment recommendations are one of the most common types of securities violations and can form the basis for FINRA arbitration claims.
How do I look up a broker on BrokerCheck?
Visit FINRA’s BrokerCheck website at brokercheck.finra.org. You can search by the broker’s name or CRD number. The report will show the broker’s employment history, qualifications, and any disclosure events such as customer complaints, regulatory actions, or employment terminations. BrokerCheck is a free public resource that all investors should use before working with a financial advisor.
What should I do if I suspect broker misconduct?
First, gather and organize all account statements, trade confirmations, and communications with your broker. File a written complaint with the brokerage firm’s compliance department. Consider consulting with a securities attorney who can evaluate whether you have a viable claim. If appropriate, your attorney can help you file a FINRA arbitration claim to seek recovery of your losses. Time limits apply, so it’s important to act promptly.
About Patil Law, P.C.
Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and investment fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.
With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.
Patil Law works on a contingency fee basis, meaning clients pay no attorney fees unless the firm successfully recovers money on their behalf. All consultations are free and confidential.
Contact Patil Law for a Free Consultation
If you have experienced losses in your account with Anne Lane Davidson or another Wells Fargo Advisors broker, contact Patil Law, P.C. for a free, confidential consultation. Our experienced securities attorneys can review your case and explain your legal options.
Call: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com
There is no obligation, and all consultations are completely confidential.
*The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.*
