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CFP Board Issues Revocation to Barred Wells Fargo Broker Charles Frieda

Barred from FINRA in December 2017 for unsuitable over-concentration in speculative oil and gas securities, resulting in significant losses for elderly customers, Anaheim's Charles Henry Frieda no longer may use Certified Financial Planner certification marks pursuant to a CFP Board administrative revocation order issued last week.

When FINRA barred Frieda and Charles Bernard Lynch, who previously served as representatives with Wells Fargo Advisors and Wells Fargo Clearing Services of Irvine, CA, the regulator wrote that Frieda and Lynch recommended an unsuitable energy-sector investment strategy by over-concentrating at least 50 customers in speculative securities, such as oil-and-gas exploration company Halcon Resources Corp and energy sector stock Magnum Hunter Resources, which filed for bankruptcy shortly thereafter.

The CFP Board additionally found that Frieda failed to place the interests of his clients ahead of his own, failed to timely report FINRA's bar to CFP, and failed to cooperate with CFP Board's investigation.

If you have invested with former Wells Fargo Advisors reps Charles Henry Frieda or Charles Bernard Lynch, or with any broker or financial adviser whose unsuitable recommendation of inordinately risky or speculative securities such as oil-and-gas stock Magnum Hunter Resources has resulted in losses, excessive fees, or other damages, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.

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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
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Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
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