Tagged with "Ameriprise Financial"

FINRA Denies Appeal From Former Ameriprise Financial Broker Barred for Concealing $100 Million Worth of Private Securities Transactions and Outside Business Activities

Posted on March 8th, 2019 at 5:01 PM
FINRA Denies Appeal From Former Ameriprise Financial Broker Barred for Concealing $100 Million Worth of Private Securities Transactions and Outside Business Activities

In May of 2017, FINRA barred former Ameriprise Financial broker, Jim Jinkook Seol of Lake Forest, California for participating in $100 million worth of private securities transactions by selling away and deliberately concealing the misconduct from Ameriprise Financial.

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Former Ameriprise Broker Charged with Unsuitable Trading

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

Adamson Wright allegedly mismarked 249 order tickets by marking "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.

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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

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).

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New Areas for Retirement Fund Lawsuits

Posted on April 3rd, 2015 at 10:15 AM
New Areas for Retirement Fund Lawsuits

According to the National Association of Plan Advisors 401(k) Summit, the new major areas for lawsuits include the failure of financial services firms to follow fee disclosure regulations, as well as arrangements where plan service providers have discretion over fund menus and employee stock ownership plans.

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Ameriprise Profits Rise But with Fewer Financial Advisors

Posted on February 25th, 2015 at 11:39 AM
Ameriprise Profits Rise But with Fewer Financial Advisors

In 2014, Ameriprise Financial's wealth management reported $792 million in profits, up 33% year-over-year.

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LATEST NEWS AND ARTICLES

September 23, 2022
CFP Board Lifts Interim Suspension of Former UBS Advisor

The Certified Financial Planner Board of Standards (CFP Board) has lifted an interim suspension it had imposed against a former UBS advisor after criminal fraud charges against him were recently dismissed.

September 22, 2022
FINRA Penalizes Baird Over $100 Trading Commissions

The Financial Industry Regulatory Authority (FINRA) has ordered Robert W. Baird & Co. to pay $461,481 plus interest due to allegations that the firm overcharged its clients on thousands of equity transactions for at least one year.

September 21, 2022
FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered UBS to pay nearly $470,000 to clients who invested in a complex options strategy, known as the YES or Yield Enhancement Strategy.