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.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access