Former Ameriprise Broker Charged with Unsuitable Trading

Posted on July 22nd, 2015 at 11:53 AM
Former Ameriprise Broker Charged with Unsuitable Trading

From the Desk of Jim Eccleston at Eccleston Law LLC:

Adamson Wright allegedly mismarked 249 order tickets by marking them "unsolicited" when the trades actually were solicited. The solicited trades were uncovered option trades which are prohibited by Ameriprise Financial. By marking order tickets “unsolicited” he was able to bypass the restriction. The wrong doing occurred between May, 2010 and February, 2011.

Also, Wright allegedly engaged in unauthorized discretionary trading and made unsuitable investment recommendations. Two clients alleged an unsuitable purchase of China Agritech. Wright was working at Ameriprise Financial at the time of the alleged inquiries. Including his allegations at Ameriprise, Wright has five customer disputes against him. Most advisors have no disputes, making Wright’s relatively high. 

Weight currently is registered with Intercarolina Financial Services in Greensboro, North Carolina and has been since August 2011.

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, China Agritech

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