Haselkorn & Thibaut Opens Investigation Into Goutam Datta (Gary Datta), Wells Fargo Advisors – Coppell, TX
Haselkorn & Thibaut, a national investment fraud law firm with over 50 years of experience and a reported 98% success rate, has opened an investigation into Goutam (“Gary”) Datta of Coppell, Texas. Mr. Datta is currently registered with Wells Fargo Advisors / Wells Fargo Advisors Financial Network, LLC (since August 1, 2025) and previously worked with Edward Jones and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
If you are an investor who worked with Mr. Datta and have concerns about investment losses or account activity, the information below is intended to help you understand potential issues and your options.
Who Is Goutam Datta (Gary Datta)?
Table of Contents
- Location: Coppell, Texas
- CRD Number: 6060441
- Current Firm: Wells Fargo Advisors / Wells Fargo Advisors Financial Network, LLC
- Registration Date: 08/01/2025
- Previous Firms:
- Edward Jones (02/2015–08/2025)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (10/2012–02/2015)
- Other Affiliations (Non-securities related, as reported):
- I-2/BPST Inc. – Owner (Bridgewater, NJ, engineering)
- Tagore House Initiative NFP – Nonprofit (Urbana, IL)
What Are the Allegations Involving Goutam Datta?
Haselkorn & Thibaut reports that it is reviewing records and customer complaints relating to the management of client accounts by Mr. Datta. The most recent known matter is a pending customer dispute arising from his time at Edward Jones. The customer seeks $258,993 in damages in a FINRA arbitration filed in October 2025 (Case No. 25-02305).
The allegations include:
| Allegation | Description | Related Rule / Standard |
|---|---|---|
| Unsuitability | Recommending investments that may not match the customer’s financial profile or risk tolerance | FINRA Rule 2111 |
| Breach of Fiduciary Duty | Alleged failure to act in the client’s best interest, potentially implicating Reg BI | SEC Regulation Best Interest |
| Fraud / Misrepresentation | Alleged misleading statements or omissions of material facts about securities or strategies | FINRA Rule 2020 |
| Unauthorized Trading | Executing transactions without the customer’s explicit permission or written authority | FINRA Rules 3260 and 2010 |
These are allegations only; they have not been proven, and the matter remains pending.
Customer Complaints: Known Disclosures
Pending Customer Dispute (Filed October 2025)
- Customer of: Edward Jones
- Allegations: Unauthorized trading, breach of fiduciary duty, unsuitability, and misrepresentation
- Amount Claimed: $258,993 in damages
- Status: Pending (as of November 2025)
- Reference: FINRA Arbitration Case No. 25-02305
According to currently available public information, there are no additional customer complaints, disciplinary actions, or regulatory events disclosed for Mr. Datta. For the most current and official information, investors should review FINRA BrokerCheck.
What Is Unauthorized Trading?
Unauthorized trading occurs when a broker or advisor places trades in an investor’s account without the investor’s authorization, where the broker does not have proper written discretionary authority. Such conduct can violate multiple FINRA rules and may cause significant financial harm.
If you see trades in your account that you did not approve or do not understand, it may be appropriate to investigate further and seek independent guidance.
Red Flags for Investors
Regardless of who your financial advisor is, remain alert to the following warning signs:
- Transactions on your statements that you do not recognize or did not authorize
- Frequent trading or complex/high-fee products that do not match your stated goals
- Vague, confusing, or changing explanations about account activity or strategy
- Pressure to sign blank or incomplete documents
- Requests for broad discretionary authority without clear written explanations
- Losses that appear inconsistent with your disclosed risk tolerance or investment objectives
Steps You Can Take to Protect Yourself
- Review your documents: Carefully review monthly account statements and trade confirmations.
- Document concerns: If something looks incorrect or unfamiliar, raise the issue in writing with your advisor and the branch manager.
- Check background: Use FINRA BrokerCheck to review your advisor’s registration history and any disclosures.
- Maintain records: Keep copies of emails, letters, and notes from phone conversations concerning your investments.
- Seek independent advice: If you suspect misconduct or mismanagement, consider consulting an attorney or firm that focuses on investment-related disputes.
Why FINRA Arbitration?
Many disputes between investors and brokerage firms or their representatives are resolved through FINRA arbitration, rather than in court. In such proceedings, investors may seek:
- Recovery of investment losses
- Interest and, in some cases, costs and attorneys’ fees (depending on the claim and applicable law)
If you believe you have suffered losses related to the conduct of Goutam Datta or any advisor, a review of your situation may help determine whether a FINRA arbitration or other claim is appropriate.
How Haselkorn & Thibaut May Assist
Haselkorn & Thibaut describes itself as a national law firm focused on representing investors in claims involving alleged investment fraud, broker misconduct, and related issues. The firm highlights:
- Over 50 years of combined experience representing investors nationwide
- A reported 98% success rate and substantial recoveries for clients
- A “no recovery, no fee” contingency structure (you typically owe no attorneys’ fees if there is no recovery, subject to the terms of any engagement agreement)
Whether your concerns involve Wells Fargo Advisors, Edward Jones, or another brokerage firm, you may wish to understand your legal rights and possible avenues for recovery.
Free, Confidential Consultation
If you invested with Goutam (Gary) Datta in Coppell, Texas, and have questions about your account activity or losses, you can seek a confidential, no-obligation consultation with Haselkorn & Thibaut.
Call Haselkorn & Thibaut at 1-888-994-8066
No recovery, no fee.
Important: Allegations described above are based on currently known public disclosures and firm statements and may change. Investors should consult official regulatory sources such as FINRA BrokerCheck and obtain personalized legal advice before making decisions.
