Wells Fargo owes a former client more than $400,000 after a FINRA arbitration panel ruled that the firm had been negligent in permitting the client's ex-wife to empty his IRA over a period of nearly 10 years, according to a copy of the award.
Mark Schroeder, a doctor in St. Louis, opened his IRA with A.G. Edwards in 1999, according to his attorney, Chad Beaver. A.G. Edwards later merged with Wells Fargo.
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