Ameriprise Financial Services, Inc., a Financial Industry Regulatory Authority (FINRA) member brokerage firm located in Minneapolis, Minnesota, was orderd by a FINRA Arbitration Panel to pay $418,000.00 in damages in connection with a customer initiated investment related arbitration claim founded upon accusations including breach of contract, omissions of facts and breach of fiduciary duty relating to funds that the firm transferred without the customer’s consent. FINRA Arbitration Case No. 16-01613 (June 22, 2017).
Apparently, funds from two of the customer’s individual retirement accounts and one of the customer’s non-qualified investment account had been sent to someone who was not a beneficiary on the customer’s account.
Since June 14, 1971, Ameriprise Financial Services, Inc. has been subject of sixty-nine regulatory infractions and over one-hundred customer initiated investment related arbitration claims regarding incidents of the firm’s misconduct.
Guiliano Law Group
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