Shawn David Bumgardner of Southgate, Michigan, a stockbroker registered with Ameriprise Financial Services LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $500,000.00 in damages based upon allegations that Bumgardner made unsuitable recommendations of variable annuities when Bumgardner was associated with Ameriprise Financial Services LLC. FINRA Arbitration No. 22-02263 (October 4, 2022).
This is not the first time that Bumgardner has been referenced in a customer initiated investment related dispute concerning Bumgardner’s conduct in the securities industry. FINRA Public Disclosure shows that Bumgardner is also referenced in a customer initiated investment related complaint filed on May 31, 2001, in which the customer requested $33,000.00 in damages based upon allegations that Bumgardner failed to follow instructions concerning mutual funds when Bumgardner was associated with American Express Financial Advisors. This complaint was denied by the securities broker dealer.
On October 18, 2007, another customer filed an investment related complaint involving Bumgardner’s conduct in which the customer requested compensation based upon allegations that Bumgardner made unsuitable recommendations of REITs and variable annuities during the time that Bumgardner was associated with Ameriprise Financial Services LLC. The securities broker dealer also denied this complaint.
Bumgardner has been associated with Ameriprise Financial Services LLC as a stockbroker since June 21, 1994, and as an investment advisor representative since August 27, 2010.
