Ex-rep claims discrimination in lawsuit

A former broker with Wells Fargo Advisors LLC of St. Louis has sued the firm for sexual discrimination.
AUG 16, 2009
A former broker with Wells Fargo Advisors LLC of St. Louis has sued the firm for sexual discrimination. Helen Berenyi, a legacy Wachovia Securities LLC broker who worked in the firm's Charleston, S.C., office, claims she was denied a fair share of client assets when a partnership she had with another representative was dissolved in December 2007. She filed her lawsuit this month in U.S. District Court for the District of South Carolina in Charleston, claiming discrimination and retaliation. Ms. Berenyi was forced out of Wachovia in August 2008, according to the suit. She is now president of Red Triangle LLC, an advisory firm in Charleston. Wachovia Securities this year was renamed Wells Fargo Advisors. Brokers can file discrimination claims in court rather than arbitration, but they must first get right-to-sue letters from the U.S. Equal Employment Opportunity Commission. According to her suit, Ms. Berenyi received permission to file the court claim. Her attorney, Allan Holmes of Gibbs & Holmes PC in Charleston, didn't return calls seeking comment. In a document attached to the suit, Mr. Holmes said that as of a year ago when she was terminated, Ms. Berenyi was owed another $39 million in client assets in addition to the $13 million she had already received. Teresa Dougherty, a spokeswoman for Wells Fargo Advisors, declined to comment. E-mail Dan Jamieson at [email protected].

Latest News

People moves: RBC taps Raymond James veteran for Texas complex
People moves: RBC taps Raymond James veteran for Texas complex

Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant

Ex-LPL, special needs advisor pleads guilty in fraud case
Ex-LPL, special needs advisor pleads guilty in fraud case

Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.

Advisor moves: Raymond James lands $700M Truist team in Naples
Advisor moves: Raymond James lands $700M Truist team in Naples

Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL

Investor accuses Lasater Capital of hiding $100M in fund defaults
Investor accuses Lasater Capital of hiding $100M in fund defaults

Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.

American Express to make job cuts as AI revolution ramps up
American Express to make job cuts as AI revolution ramps up

“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor