ED Magedson – Founder
Wells Fargo Advisors- Vincent Ruma Jr1001 LAKESIDE AVENUE, NORTH POINT TOWER, SUITE-130 Cleveland, Ohio USA
Wells Fargo Advisors- Vincent Ruma Jr, Mark Beshany, Account wiped out- broker refused to follow alerts Cleveland Ohio
I want to warn others and help them not to lose their money. What I am going to state is on a transcript. I am happy to send this transcript to help others. Please beware of Vincent Ruma Jr, after a number of years my account became wiped out. There are many other choices, the only way I realized how bad he was is when I was left without any money in my account. Look at his Brokercheck. What do you see a history of?
The biggest of the four issues was the compliance person warned Vincent Ruma Jr of the client's need to diversify, he never told the client this. Further he told the client he was not using margin, when he was in fact using margin. Three, the Wells Fargo attorney testified that" they lost or destroyed these warning alerts." Four, their own compliance person testified that she had emailed over the alerts to Vince Ruma over a few weeks and he did not take action. Thus the account was destroyed which is what compliance had warned Ruma of.
Amazingly Wells beat us out of our money at arbitration but now there is ongoing investigation ensuing. There are other better people in this industry. Stay away from Vince Ruma.
This report was posted on Ripoff Report on 08/05/2013 03:14 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wells-Fargo-Advisors-Vincent-Ruma-Jr/Cleveland-Ohio-44114/Wells-Fargo-Advisors-Vincent-Ruma-Jr-Mark-Beshany-Account-wiped-out-broker-refused-1073264. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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