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,

Return to Archive

TESTIMONIALS

Previous
Next

I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!

David Y

LATEST NEWS AND ARTICLES

October 15, 2021
FINRA Bars Former LPL Advisor Who Allegedly Misappropriated Elderly Client’s Funds

The Financial Industry Regulatory Authority (FINRA) has barred a former LPL advisor who allegedly misappropriated a senior client’s funds and subsequently failed to cooperate in FINRA’s investigation.

October 14, 2021
NASAA Targets Unpaid Arbitration Awards With Proposed New Model Rules

The North American Securities Administrators Association (NASAA) has proposed new rules in an attempt to reduce the large number of arbitration awards that go unpaid to investors who prevail as claimants in arbitration proceedings.

October 13, 2021
SEC Freezes Assets and Halts Alleged Fraudulent Scheme By Ron Harrison

The Securities and Exchange Commission (SEC) has obtained an emergency court order freezing the assets of Ron Harrison, who allegedly operated an ongoing fraudulent scheme.