Coppell, TX – December 6, 2025 – Goutam Datta (CRD# 6060441) is a registered broker and investment adviser representative currently employed with Wells Fargo Advisors Financial Network, LLC in Coppell, TX. According to his FINRA BrokerCheck record, Datta has one pending customer dispute filed on October 22, 2025, alleging unauthorized trading, breach of fiduciary duty, negligence, and fraud related to his conduct while employed at Edward Jones. The claimant is seeking $258,993 in damages through FINRA arbitration. This article provides an overview of the allegations and information about investor rights under securities laws.
BrokerCheck Snapshot
Name: Goutam (Gary) Datta
CRD #: 6060441
Firm: Wells Fargo Advisors Financial Network, LLC
Location: Coppell, TX
Years in Industry: 13
Number of Disclosures: 1 (1 Pending Customer Dispute)
Customer Dispute Against Goutam Datta
According to FINRA BrokerCheck records, Goutam Datta has one pending customer dispute:
FINRA Arbitration Case #25-02305 – Filed October 22, 2025 – Pending
A customer filed a FINRA arbitration claim against Datta alleging breach of fiduciary duty, negligence, negligent supervision, fraud, and breach of contract related to alleged unauthorized trading in the customer’s account. The alleged conduct occurred while Datta was employed at Edward Jones. The claimant is seeking damages of $258,993.00. The product type involved is listed as “Investment Advisor.” The case remains pending as of the date of this report.
Unauthorized trading occurs when a broker executes trades in a customer’s account without obtaining prior authorization from the customer. Brokers are required to obtain express permission for each transaction unless the customer has granted written discretionary authority. Trading without authorization violates FINRA rules and securities laws and can result in significant investor losses.
Breach of fiduciary duty allegations suggest that Datta may have failed to act in the customer’s best interests and may have prioritized his own interests or the interests of his firm over those of the client. Investors who experience broker misconduct may be entitled to recover losses through FINRA arbitration.
Employment History
Datta has been in the securities industry since 2012 and has worked for the following firms:
- Wells Fargo Advisors Financial Network, LLC (August 2025 – Present): Coppell, TX
- Edward Jones (February 2015 – August 2025): Southlake, TX
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (October 2012 – February 2015): Fort Worth, TX
Datta holds Series 7 and Series 66 licenses and is registered in 12 U.S. states and territories.
Pattern of Unauthorized Trading and Broker Misconduct
While each case is unique, allegations of unauthorized trading and breach of fiduciary duty are serious violations of securities industry rules. When brokers execute trades without authorization, they may be churning accounts to generate commissions, placing unsuitable investments that benefit the broker’s compensation, or making speculative trades that expose clients to excessive risk.
Investors who worked with Datta at Edward Jones or Wells Fargo Advisors should carefully review their account statements and transaction history. If you notice unexpected trades, excessive trading activity, or losses you did not authorize, you may have a claim for recovery through FINRA arbitration.
Can Investors Recover Losses?
Investors who experienced losses due to unauthorized trading, breach of fiduciary duty, unsuitable investments, or other violations of securities laws 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. For investors who experienced losses due to broker misconduct, FINRA arbitration provides an avenue to seek recovery without the expense and delay of federal court.
Related Brokers and Firms
Investors who have concerns about their accounts at Wells Fargo Advisors or Edward Jones may want to review disclosure records for other registered representatives at these firms. Additionally, investors should understand their rights under securities laws when working with any financial professional.
Frequently Asked Questions
What is the disclosure against Goutam Datta?
Goutam Datta has one pending customer dispute. A FINRA arbitration claim was filed on October 22, 2025 (Case #25-02305), alleging breach of fiduciary duty, negligence, negligent supervision, fraud, and breach of contract related to alleged unauthorized trading. The claimant is seeking $258,993 in damages. The alleged conduct occurred while Datta was employed at Edward Jones. The case remains pending.
Can investors recover losses involving Wells Fargo Advisors or Edward Jones?
Yes. Investors who experienced losses due to broker misconduct at Wells Fargo Advisors or Edward Jones may be entitled to recover through FINRA arbitration. Most brokerage agreements contain mandatory arbitration clauses. Securities laws provide investors with remedies when brokers engage in unauthorized trading, recommend unsuitable investments, or breach fiduciary duties.
What is FINRA arbitration?
FINRA arbitration is a forum for resolving disputes between investors and brokerage firms or registered representatives. It is typically faster and less expensive than court litigation. Most investor-broker disputes are resolved through this process due to arbitration clauses in account agreements. An arbitration panel hears evidence from both sides and issues a binding decision.
What is unauthorized trading?
Unauthorized trading occurs when a broker executes trades in a customer’s account without obtaining prior authorization from the customer. Brokers are required to obtain express permission for each transaction unless the customer has granted written discretionary authority. Unauthorized trading violates FINRA rules and securities regulations and can result in significant investor losses.
How do I look up a broker on BrokerCheck?
You can look up any registered broker or brokerage firm on FINRA’s BrokerCheck website at brokercheck.finra.org. Simply enter the broker’s name or CRD number to access their professional background, employment history, licenses, and any customer complaints or regulatory actions. This is a free public resource that all investors should use before working with a financial professional.
What should I do if I suspect broker misconduct?
If you suspect broker misconduct, take these steps: (1) Document all account statements, trade confirmations, and communications with your broker; (2) File a complaint with FINRA and your state securities regulator; (3) Consult with a securities attorney who handles investor claims. Do not delay, as arbitration claims must generally be filed within six years. Contact Patil Law, P.C. at 800-950-6553 for a free consultation.
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 securities 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, P.C.
If you have experienced investment losses involving Goutam Datta, Wells Fargo Advisors, or Edward Jones, contact Patil Law, P.C. for a free, no-obligation consultation. Our experienced securities attorneys can review your case and explain your legal options.
Phone: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com
We work on a contingency fee basis—you pay no attorney fees unless we successfully recover money for you.
Disclaimer
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.
