Steven Michael Roffman of Jacksonville Florida a stockbroker formerly employed by Ameriprise Financial Services Inc. has been discharged by the firm on March 22, 2016 supported by accusations that (1) Roffman inappropriately solicited one or more customer’s investments in leveraged and inverse ETF investments (2) Roffman traded in customer accounts without written authorization from the customers or the firm and (3) Roffman mismarked customer order tickets.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Roffman has been identified in four customer initiated investment related disputes containing allegations of his misconduct while employed with Prudential Securities Incorporated and Morgan Keegan & Company Inc. Particularly, a customer initiated investment related complaint involving Roffman’s conduct was resolved for $12,000.00 in damages founded on accusations that while Roffman was associated with Prudential Securities Incorporated, unauthorized trades were executed in the customer’s account, and the customer was inappropriately placed in a variable annuity investment.
Thereafter, a customer initiated investment related arbitration claim involving Roffman’s activities was settled for $65,000.00 in damages based upon allegations that while Roffman was associated with Morgan Keegan & Company, the customer’s account was churned; unauthorized and unsuitable trades were effected in the customer’s account; and the customer became a victim of elder abuse.
Roffman has been registered with IFS Securities since March 29, 2016.
