Erez Law is currently investigating former Edward Jones broker Wendell Trapp III (CRD# 6177720) regarding mutual fund losses. He was registered with San Blas Securities LLC in Chicago, Illinois, in 2024, and Edward Jones in Belden, Mississippi, from 2017 to 2024.
Wendell Trapp III Customer Complaints
He has been the subject of 12 customer complaints in 2024, free of which were denied, according to his CRD report:
September 2024. “Attorney for client alleges the financial advisor was supposed to invest client’s funds in a municipal bond earning 4.65%, but financial advisor made numerous unauthorized purchases and sent funds from client account to unknown parties. Client requests compensation related to Financial Advisor conduct.” The customer is seeking $638,052 in damages, and the case is currently pending. The complaint was regarding mutual fund losses.
August 2024. “The client alleges the terminated financial advisor placed unauthorized trades resulting in a loss.” The customer is seeking $7,734.58 in damages, and the case is currently pending.
May 2024. “The client alleges the financial advisor stated the investment would not lose principal which was not accurate.” The customer sought $30,000 in damages, and the case was settled for $29,966.61. The complaint was regarding mutual fund losses, and it took place while he was registered with Edward Jones.
April 2024. “The client alleges that the financial advisor lied to him about his investments and that he would not lose any money.” The case was settled for $37,730.05. The complaint was regarding mutual fund losses.
March 2024. “The client alleges the financial advisor gave erroneous information about an investment.” The case was settled for $9,409.21.
March 2024. “Clients allege the financial advisor did not properly explain the municipal bond fund purchased in their account as they believed the fund paid a specific rate of interest and had a yearly maturity date. Clients also allege the financial advisor did not follow their instructions to liquidate the bond fund.” The customer sought $6,000 in damages, and the case was settled for $8,491.78. The complaint was regarding mutual fund losses.
March 2024. “The client alleges he did not authorize the transfer of Energy Transfer stock or $63,500 cash to other accounts.” The case was settled for $97,015.68. The complaint was regarding common and preferred stocks.
March 2024. “The client alleges the financial advisor stated he was in a no risk investment when, in fact, his principal was not protected.” The case was settled for $21,316.42.
March 2024. “Client alleges she purchased a bond with her former financial advisor that guaranteed her principal with an expected growth of 5% annually each year.” The case was settled for $14,192.01. The complaint was regarding government debt.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Edward Jones may be liable for investment or other losses suffered by Wendell Trapp III’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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