William David Utanski of Fort Lauderdale a stockbroker formerly employed by Ameriprise Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $125,000.00 in damages supported by allegations that (1) the customer was poorly advised on common or preferred stocks and (2) transactions failed to be suitable given the concentration of those equities in the customer’s portfolio when the stockbroker was associated with Ameriprise Financial Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02067 (July 29, 2019).
FINRA Public Disclosure reveals that Utanski has been identified in four additional customer initiated investment related disputes in regard to accusations of the stockbroker’s bad business practices while employed by securities broker dealers including Ameriprise Financial Services. Specifically, a customer initiated investment related arbitration claim pertaining to Utanski’s conduct was resolved for $100,000.00 in damages based upon allegations that during the period that Utanski was registered with Ameriprise Financial Services, bad investment advice was provided to the customer; transactions were in no way appropriate; false or misleading statements had been made regarding the terms and status of investments; and the customer was charged unwarranted commissions or fees on stock trades. FINRA Arbitration No. 15-00076 (Feb. 22, 2016).
Utanski is referenced in another customer initiated investment related arbitration claim which was settled for $20,000.00 in damages founded on accusations that the customer’s investment portfolio was churned by the stockbroker; and investment recommendations and stock transactions failed to be suitable given the customer’s objectives for investing, tolerance for risk or financial needs. FINRA Arbitration No. 15-02629 (Nov. 10, 2016). Also, a customer initiated investment related complaint involving Utanski’s activities was settled on March 7, 2016 to resolve allegations that when Utanski was employed by Ameriprise Financial Services, the customer’s account was over concentrated by the stockbroker in speculative investments including Dendreaon Corporation stocks causing the customer to be exposed to increased losses.
In addition, Utanski is the subject of a customer initiated investment related complaint which was settled on August 7, 2017 to resolve accusations that during the time that the stockbroker was registered with Ameriprise Financial Services, his over the counter equities recommendations were unsuitable for the customer given the aggressive nature of those investments.
Utanski’s registration with Ameriprise Financial Services has been terminated as of March 27, 2018.
