Wells Fargo Advisors Failed to Pay Client Associates for Every Hour Worked, Lawsuit Claims

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A proposed class and collective action claims Wells Fargo Clearing Services, LLC has failed to pay client associates for every hour worked.

According to the case, the workers are owed unpaid minimum and overtime wages in accordance with the Fair Labor Standards Act and Missouri Minimum Wage Law. The defendant, which does business as Wells Fargo Advisors, provides nationwide financial advisory, brokerage, asset management, among other financial services, the lawsuit says.

The plaintiff claims he worked for Wells Fargo Advisors as a client associate from approximately March 2011 to May 2020 and was responsible for assisting clients in the processing of securities transactions. According to the lawsuit, the plaintiff and other client associates were paid at an hourly rate according to the number of hours they reported in the defendant’s electronic timekeeping system. Although the workers were typically scheduled to work at least five shifts per week, with each shift lasting at least eight hours, they often worked more hours in a day or week than scheduled, the suit alleges.

The plaintiff alleges that even when client associates worked hours beyond their scheduled shift times, they were instructed to only report the hours for which they were scheduled. As a result, many employees have not been paid for all hours worked, including overtime hours worked in excess of 40 in a workweek, the suit claims.

According to the lawsuit, Wells Fargo Advisors “knew and/or recklessly disregarded” the fact that client associates were working more hours than were reported in its timekeeping system yet refused to properly pay them in accordance with state and federal law.

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