According to FINRA’s Disciplinary and Other FINRA Actions publication, FINRA filed a complaint against John A. Waszolek (CRD #800403) for allegedly taking advantage of his client who suffered from Alzheimer’s disease, dementia, and memory loss. From the period of 2008 through 2009 Waszolek was registered with FINRA first through UBS Financial Services, Inc. and later through Morgan Stanley Smith Barney. While registered with UBS in 2009, Waszolek allegedly took advantage of his client by having her assign him as beneficiary to her trust, even though at the time, she was unable to protect herself from exploitation. Indeed, FINRA alleged that in December 2008, an estate planning attorney informed Waszolek that she would not amend the client’s trust to make Waszolek a beneficiary because a psychologist had concluded that the client lacked sufficient testamentary capacity.
FINRA alleged that despite this knowledge, Waszolek (through a separate attorney) procured an appointment as successor trustee and residual beneficiary of the client’s trust account. Waszolek allegedly further violated his member firm’s written procedures by failing to disclose that he had been appointed as a beneficiary to a customer’s trust account, successor trustee of the client’s trust, or that he had received a healthcare power of attorney over the client. (See FINRA Disciplinary Proceeding No. 2012031181001)
According to FINRA’s Broker Check, John A. Waszolek has been registered in the securities industry for thirty nine (39) years. Waszolek is currently registered with the following firm:
RAYMOND JAMES & ASSOCIATES, INC.
CRD #705
SCOTTSDALE, AZ
02/2012 – PRESENT
Waszolek was previously registered with the following firm(s):
MORGAN STANLEY SMITH BARNEY
CRD #149777
SCOTTSDALE, AZ
06/2009 – 01/2012
MORGAN STANLEY & CO. INCORPORATED
CRD #8209
SCOTTSDALE, AZ
03/2009 – 06/2009
UBS FINANCIAL SERVICES INC.
CRD #8174
SCOTTSDALE, AZ
09/1979 – 01/1980
PAINE, WEBBER, JACKSON & CURTIS INCORPORATED
CRD #640
10/1979 – 01/1980
SECURITY FIRST FINANCIAL, INC.
CRD #6695
10/1978 – 10/1979
MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
CRD #572
10/1974 – 06/1977
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