Joseph Lawrence Peggs of Seminole Florida a stockbroker currently registered with Ameriprise Financial Services Inc. is the subject of a civil action brought in the Circuit Court of Florida in which the plaintiff requested unspecified damages founded on allegations of the failure to execute distributions from the customer’s investment account in accordance with the customer’s intentions. Civil Action No. 18-589-CA (June 5, 2019).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Peggs has been identified in seven more customer initiated investment related disputes which pertain to accusations of his misconduct while employed with securities broker dealers including PlanMember Securities Corporation, NFP Securities Inc. and Ameriprise Financial Services. Specifically, a customer filed an investment related complaint in regard to Peggs’ activities where the customer sought $161,781.00 in damages supported by allegations of the customer being sold an unsuitable annuity by Peggs when he was employed by NFP Securities Inc.
A customer initiated investment related complaint involving Peggs’ conduct was settled for $50,000.00 in damages based upon accusations that while Peggs was associated with NFP Securities Inc., false or misleading statements had been made concerning the guarantees pertaining to the customer’s insurance policy which caused the customer to continue to pay premiums on the insurance contract. Another customer filed an investment related complaint concerning Peggs’ conduct in which the customer requested more than $5,000.00 in damages founded on allegations that the customer was falsely told that his insurance policy would generate sufficient returns on investments to cover the ongoing premium payments.
Peggs is also referenced in a customer initiated investment related complaint which was resolved for $38,221.04 in damages on January 25, 2018 supported by accusations that unauthorized transactions were effected by the stockbroker during the period in which he was associated with Ameriprise Financial. In addition, on May 2, 2019, a customer initiated investment related complaint regarding Peggs’ activities was settled for $15,000.00 in damages based upon allegations that during the time that Peggs was employed by PlanMember Securities Corporation, the customer’s funds were invested by the stockbroker in bad stocks which led the customer to experience substantial losses.
