Elder Fraud Allegations End 16-year Career of James Robert Schaedler, Jr.

Former Wells Fargo Clearing Services, LLC broker is barred by FINRA

Following a 16-year career in the financial advisory and securities industry, former Wells Fargo Clearing Services LLC broker James Schaedler, Jr has now been barred by the Financial Industry Regulatory Authority (FINRA) from acting as a broker or otherwise associating with firms that sell securities to the public.

In January 2017, Wells Fargo Clearing Services, LLC discharged Schaedler after allegations that his daughter received funds via check from a client. It was determined by Wells Fargo that Schaedler himself actually received the majority of those funds.

Schaedler’s FINRA BrokerCheck report includes allegations that he exercised influence over a former elderly client, who ultimately amended her trust making him a partial beneficiary and the residual beneficiary of her $2.3 million-dollar estate. The findings stated that the investigation was later expanded to include allegations that Schaedler also improperly received a $200,000 gift from a second elderly client.

Prior to his employment with Wells Fargo Clearing Services, LLC in Anaheim CA from June 2010 to January 2017, James Schaedler was employed by:

• Merrill Lynch, Pierce, Fenner & Smith Incorporated in Santa Ana, CA from October 2009 to July 2010
• Bank of America Investment Services, Inc. in Irvine, CA from September 2004 to October 2009
• Morgan Stanley DW Inc. in Purchase, NY from November 2000 to September 2004

In potential elder financial fraud scenarios such as this, it is critical to know that elderly victims of abuse or exploitation have rights. If you or a loved one feel that you have been wronged due to elder financial fraud, abuse, or exploitation, or a violation of securities industry regulations, you may be able to recover some or all of your losses through securities arbitration.

The attorneys at Silver Law Group are leaders in the field of securities arbitration and elder financial fraud. We represent individual and institutional investors across the United States who have lost money at the hands of a trusted financial advisor. Contact us today to discuss your options.