Sherry Dee Johnson (also known as Sherry D. Sandwick) of Minneapolis Minnesota a stockbroker currently registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related written complaint on September 22, 2016 where the customer sought $16,093.40 in damages founded on allegations that Johnson’s existing annuity was surrendered and transitioned into a variable annuity without the customer having known or consented to the transaction.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Johnson has been referenced in four additional customer initiated investment related disputes pertaining to accusations of her violative conduct while employed by Ameriprise Financial Services and American Express Financial Advisors. Particularly, a customer initiated investment related civil action brought in the Circuit Court of Dekalb County, Illinois regarding Johnson’s activities was resolved for $11,310.19 based upon allegations that Johnson deceived the customer concerning the sale of the customer’s existing life insurance policies and use of the proceeds to purchase an inappropriate life insurance policy. Civil Action No. 99LM353 (June 21, 2000).
Subsequently, on September 26, 2001, a customer filed an investment related complaint in which the customer requested $30,000.00 in damages supported by accusations that Johnson steered the customer towards buying a variable universal life insurance policy that was not appropriate given the customer’s financial circumstances and age. Thereafter, on September 14, 2007, a customer initiated investment related complaint was settled to resolve allegations of the customer’s investable assets being used without the customer’s knowledge to purchase a ten year variable annuity contract, and the customer’s funds being used for products that were unsuitable for the customer considering the customer’s objectives and goals.
Thereafter, a customer initiated investment related arbitration claim was resolved for $9,999.99 in damages founded on accusations that the customer’s assets which were allocated in variable life insurance policy sub-accounts were not consistent with representations made to the customer in a written agreement about the allocation at the time that the customer purchased the variable life insurance policy.
Johnson has been registered with Ameriprise Financial Services Inc. since May 31, 1984.
