Updated: February 2025 (Westport, CT)
National securities fraud lawyers at Patil Law, P.C.. are investigating current Wells Fargo Clearing Services LLC broker James R. Alperin (CRD #2467392) regarding allegations of unauthorized trading in equity accounts. The investigation stems from a recently filed civil lawsuit alleging serious misconduct in the handling of client accounts in 2024.
Critical Insights About Westport Financial Advisor James R. Alperin
- Advisor Name: James R. Alperin
- CRD: 2467392
- Location: Westport, CT
- Current Employer: Wells Fargo Clearing Services LLC
- Classification: Registered Representative & Investment Adviser Representative
- Primary Location: 450 Post Road E, Westport, CT 06880
- Can James Alperin be sued in FINRA arbitration: Yes
- Customer Disputes: One pending complaint
- Current Registrations: Licensed in 17 states
- Years of Experience: Since 1994
- Previous Employers: Morgan Stanley (2016-2019), Northland Securities (2013-2015)
- Professional Qualifications: Series 7, 63, 65, 24, 4 licenses
- Current Status: Active with Wells Fargo
Details Of Current Investigation
A civil lawsuit filed in December 2024 alleges:
- Unauthorized trading in customer accounts
- Trading without proper client consent
- Violations occurring during unspecified timeframe
- Damages sought approximately $5,000,000
- Potential violations of firm policies and industry regulations
Analysis Of Alleged Misconduct
The allegations raise serious concerns about:
- Trading authorization procedures
- Client consent documentation
- Account management practices
- Supervision protocols
- Compliance with firm policies
- Protection of client interests
Regulatory Framework And Investor Protection
SEC Regulation Best Interest (Reg BI) requires:
- Proper trading authorization
- Documented client consent
- Accurate recordkeeping
- Client best interest practices
- Compliance with firm procedures
FINRA Rules And Their Significance
FINRA Rule 2010 mandates:
- High standards of commercial honor
- Ethical business practices
- Proper client authorization
- Accurate documentation
- Trading authorization compliance
Professional Background
Mr. Alperin’s career includes:
- Entry into securities industry in 1994
- Previous positions at major firms
- Multiple principal/supervisory licenses
- Investment adviser registration
- Multi-state licensing
Red Flags For Investors
- Pending unauthorized trading allegations
- Substantial damages sought
- Recent civil litigation
- Trading authorization concerns
- Documentation issues
- Client consent questions
- Multiple firm transitions
- Multi-state operations
Implications For Current And Former Clients
Current and former clients should:
- Review all account statements
- Verify trading authorizations
- Document all communications
- Examine portfolio changes
- Check transaction histories
- Monitor account activity
- Consider independent review
- Verify trade confirmations
Patil Law P.C. Will Help You Recover Your Investment Losses
If you have concerns about unauthorized transactions or suspicious trading activity in your account handled by Mr. Alperin, , please contact Attorney Patil online or call (800) 950-6553 for a free initial consultation. Our securities fraud attorneys work on a contingency fee basis, meaning we only get paid if we help you recover money.
