FINRA barred former Waddell & Reed, Inc. broker Kelly Ann Willey for directing an elderly Waddell & Reed customer to write multiple checks totaling $1,200 to Willey personally. The checks were allegedly written for services rendered. According to the investigation, Willey never performed said financial services and instead used the entire amount of those checks for personal use.
Willey was also accused of violating Waddell & Reed firm policy that prohibits registered representatives from requesting a customer to sign a blank or incomplete form, falsifying customer signatures and accepting checks made out to the representative personally.
Willey's alleged violation of FINRA Rule 2150 for improper use and/or conversion of customer funds, FINRA barred her from the securities industry.
If you have invested with Kelly Ann Willey, Waddell & Reed or with any broker or firm that has improperly solicited checks payable to the broker directly, or you suspect a broker or firm's conversion of your funds, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.