Julie Ann Smith of Durham North Carolina a stockbroker formerly registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related complaint which was resolved on November 16, 2018 for $115,966.29 in damages supported by allegations that Smith utilized an unsuitable market-timing investment strategy involving non-traditional investments which included (1) derivatives (2) managed futures (3) commodities (4) leveraged funds.
FINRA Public Disclosure reveals that Smith has been identified in nine additional customer initiated investment related disputes containing accusations of her violative conduct during the time that he was associated with Ameriprise Financial Services. Specifically, on October 24, 2008, a customer filed an investment related complaint involving Smith’s activities in which the customer sought $300,000.00 in damages founded on allegations that equity investment recommendations made to the customer were not suitable especially given the customer’s stated concerns about market volatility and intent to protect principal.
On September 16, 2014, another customer filed an investment related complaint involving Smith’s conduct where the customer requested $90,000.00 in damages based upon accusations that omissions had been made to the customer concerning the fees assessed on investment transactions; the customer suffered unwarranted investment performance on exchange traded funds; and the customer’s account had not been liquidated in a timely manner. Thereafter, a customer initiated investment related arbitration claim concerning Smith’s conduct was settled for $650,000.00 in damages supported by allegations that Smith was inappropriately placed in alternative investments including derivatives, options, commodities, leveraged exchange traded funds, inverse exchange traded funds, and short leveraged funds. FINRA Arbitration No. 14-02920 (Nov. 20, 2015).
Moreover, a customer initiated investment related arbitration claim regarding Smith’s activities was resolved for $1,810,000.00 in damages founded on accusations against Smith of market-timing in customers’ account and failing to appropriately invest the customers’ funds. FINRA Arbitration No. 15-03399 (Nov. 16, 2016). Then, a customer initiated investment related complaint concerning Smith’s conduct was settled on November 16, 2016 for $115,966.29 in damages based upon allegations that Smith placed unsuitable amounts of commodities, managed futures and derivatives in the customer’s account.
Also, on November 16, 2016, a customer initiated investment related complaint regarding Smith’s activities was resolved for $225,271.56 in damages supported by accusations of unsuitability pertaining to the customer’s alternative investments.
Smith’s registration with Ameriprise Financial Services Inc. has been terminated as of January 15, 2015.
