Scott Ari Shaw of Philadelphia, Pennsylvania, a stockbroker registered with Ameriprise Financial Services LLC, was the subject of a customer initiated investment related civil action that was settled for $30,000.00 in damages based upon allegations that Shaw failed to respond to requests for information about a life insurance policy, resulting in the lapse of the policy. Civil Action No. L-1644-19 (August 12, 2020).
This is not the first time that Shaw has been referenced in a customer initiated investment related dispute concerning Shaw’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Shaw is also referenced in a customer initiated investment related complaint filed on February 25, 2010, in which the customer requested $9,190.50 in damages based upon allegations that Shaw made unsuitable recommendations of insurance products when Shaw was associated with Ameriprise Financial Services LLC. The securities broker dealer denied this complaint.
Shaw was associated with Ameriprise Financial Services LLC as a stockbroker from August 13, 2001, to August 22, 2018, and as an investment advisor representative from June 28, 2002, to August 22, 2018. He has been associated with LPL Financial LLC as both a stockbroker and an investment advisor representative since August 17, 2018.
