Advisor Fired, Continues to Claim to Work for Ameriprise

Posted on July 15th, 2015 at 12:49 PM
Advisor Fired, Continues to Claim to Work for Ameriprise

From the Desk of Jim Eccleston at Eccleston Law LLC:

Li-Lin Hsu was fired from Ameriprise Financial after listing herself as a beneficiary on an insurance product she sold to a client. Although sources say the client was her mother, Ameriprise dismissed Hsu for violating company policies (That is maintaining a beneficiary relationship with a client, complaint handling, comingling of funds, and conducting business with a foreign client).

After being released, Hsu allegedly continued to represent herself as an Ameriprise advisor and use Ameriprise proprietary information on her various social media platforms. Ameriprise filed for a TRO in U.S. District Court seeking to enjoin HSU, and also seeking relief due to a customer complaint arising from the compliance breach.

When advisors leave firms, for whatever the reason, it is important that they consult legal counsel in order to avoid making the mistakes Hsu made. Your counsel can ensure you as to what you are and are not entitled to do and to take with you from your previous employer.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Eccleston Law LLC, James Eccleston, eccleston, Eccleston Law, Ameriprise Financial,

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Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.


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