Damian Bell: Ex-WFG Rep Has 6-Figure Complaints

Daphne, Alabama broker and investment adviser Damian Bell (CRD# 2348521) has received resolved or pending investor complaints alleging his conduct led to losses, including two that resolved with $5 million awards to the customers. According to records provided by the Financial Industry Regulatory Authority (FINRA), Bell is currently registered with International Assets Advisory.

Damian Bell’s FINRA-maintained BrokerCheck report lists three pending investor complaints against him, three settled investor complaints, and three complaints that resolved with an award to the claimant.

The most recent pending complaint was filed in April 2021. It alleges that as a representative of WFG Investments, Damian Bell failed in his supervisory duties, breached his fiduciary duty, recommended unsuitable investments, and breached contract. The pending complaint alleges damages of $50,000.

A pending complaint filed in 2020 alleges that as a representative of WFG International, Damian Bell acted negligently, violated the law, recommended unsuitable investments, was negligent in his supervisory duties, breached contract, and failed to uphold his fiduciary duty to act in the investor’s best interests. The pending complaint alleges damages of $100,000.

Another pending complaint filed in 2020 alleges that as a representative of International Assets Advisory, Damian Bell breached contract and violated state securities statutes in connection to alternative investments. The pending complaint alleges damages between $100,000 and $500,000.

A complaint filed in 2017 alleged that as a representative of WFG Investments, he breached his fiduciary duty and failed to conduct due diligence in connection to private placement products. The complaint resolved with an award to the investors of $5,054,000.

A second complaint filed in 2017 alleged that as a representative of WFG Investments, he failed to conduct reasonable due diligence, misrepresented material facts, and failed to disclose material facts in connection to private placement stock between May and October 2013. In 2019 this complaint also resolved with an award to the customers of $5,054,000.

A complaint filed in 2016 alleged that as a representative of WFG International, he failed to conduct a reasonable investigation into a Servergy private placement, misrepresented material facts, breached his fiduciary duty, and made unsuitable investment recommendations. The complaint reached a settlement of $250,000.

Financial Industry Regulatory Authority (FINRA) records show that Damian Bell holds 28 years of securities industry experience. He has been registered with International Assets Advisory in Daphne, Alabama as a broker and investment adviser since 2017. He was previously registered with International Assets Advisory in Orlando, Florida; WFG Advisors in Daphne, Alabama; WFG Investments in Daphne, Alabama; Rockbridge Asset Management in Daphne, Alabama; Gunnallen Financial in Daphne, Alabama; Wachovia Securities in Fairhope, Alabama; Wachovia Securities in St. Louis, Missouri; CapTrust Financial Advisors in Fairhope, Alabama; CapTrust Financial Advisors in Charlotte, North Carolina; Merrill Lynch in New York, New York; and Prudential Securities in New York, New York. He has passed five securities industry qualifying examinations: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the General Securities Principal Examination, or Series 24. He currently holds 18 state securities licenses. (Information current as of July 14, 2021.)