Bert Thomas Bowler of New Canaan Connecticut a stockbroker formerly registered with Ameriprise Financial Services Inc. was referenced in a customer initiated investment related arbitration claim by where the customer sought $50,000.00 in damages based upon accusations that the customer was poorly advised with respect to the purchase of a variable universal life insurance policy. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-02107 (July 22, 2016).
The causes of action relate to a variable life insurance policy.
On April 13, 2017, the Arbitrator heard oral arguments on Respondent’s Motion to Dismiss. On April 26, 2017, the Arbitrator granted Respondent’s Motion to Dismiss pursuant to Rule 12206 of the Code. The Panel granted Respondent’s Motion to Dismiss on the grounds that six years have elapsed from the occurrence or event giving rise to Claimant’s claims.The case was dismissed without prejudice so that Claimant, Velma Lockey, could file her claim in Court. However, according to FINRA Public Disclosure, it does not look like she every did.
FINRA Public Disclosure reveals that Bowler is referenced in two additional customer initiated investment related disputes pertaining to allegations of Bowler’s misconduct while employed with Ameriprise Financial Services Inc. and American Express Financial Advisors. Particularly, on April 8, 2002, a customer filed an investment related complaint concerning Bowler’s activities in which the customer requested $218,000.00 in damages supported by accusations that the customer’s investment portfolio had been mismanaged, causing the customer to incur catastrophic losses on mutual fund investments.
Then, on August 7, 2007, a customer filed an investment related complaint regarding Bowler’s conduct where the customer sought $165,000.00 in damages founded on allegations that the customer was provided bad advice regarding mutual funds that had been purchased in the customer’s account.
Bowler’s registration with Ameriprise Financial Services Inc. was terminated on April 24, 2017. He has been employed by Purshe Kaplan Sterling Investments as of April 21, 2017.
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