Peter Frederick Butler of Cambridge, Ohio, a stockbroker registered with Ameriprise Financial Services, Inc., has been terminated from employment on January 12, 2017, based upon allegations that he sold away from the firm and engaged in unapproved outside business activities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Butler has been identified in five more customer initiated investment related disputes in reference to allegations of Butler’s improper conduct during the time he was registered with Signator Investors, Inc. and Ameriprise Financial Services, Inc. Specifically, a customer complaint concerning Butler’s activities was filed on December 7, 2010, alleging misrepresentation of a variable life insurance policy. Then, a customer complaint regarding Butler’s conduct was settled for $172,996.22 on April 9, 2014, supported by accusations that funds liquidated from a variable annuity had not been invested as the customer intended. Another customer complaint involving Butler’s activities was settled on May 30, 2014, to resolve allegations that the customer’s assets, which were meant to be invested in a real estate investment trust, failed to be invested in conformity with the customer’s expectations.
Subsequently, on October 25, 2016, a customer filed an investment related written complaint regarding Butler’s activities, wherein the customer sought $8,980.42 in damages based upon allegations that an unsuitable variable annuity purchase was effected, and omissions had been made in regard to investment selection limitations. Another customer brought a customer complaint on July 28, 2017, seeking $35,067.74 in damages based on allegations of misrepresentation pertaining to two of the customer’s variable annuity purchases.
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