Category Archives: Ameriprise Financial

Brian Hussey-Former Ameriprise Broker-Suspended Over Marijuana Penny Stocks-Tampa, FL

September 2018-Tampa, FL

The FINRA records of  Brian John Hussey, Jr. ,  a  stockbroker who was formerly employed by Ameriprise Financial Services disclose a recent regulatory event resulting in a suspension and a prior customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In May 2018 Hussey was suspended for seven months by FINRA to resolve allegations that he made unsuitable recommendations and mismarked transactions regarding penny stocks and failed to provide notice of de facto discretionary trading at a third party firm. According to the FINRA proceeding Hussey recommended to oa customer that she sell 100 percent of the mutual fund positions in her IRA account and invest the proceeds in penny stocks focussed on the marijuana business.

Solicitation of penny stocks violated his firm’s policy prohibiting soliciting penny stocks. Hussey attempted to conceal his actions by mismarking the the trades as being unsolicited.

The customer brought a claim against the firm and was paid $67,019 in settlement thereof.

Hussey was employed by Ameriprise from  2/2008-6/2018.

If you have losses in an account in an account handled by Brian Hussey , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Eric Stuckey-Cornerstone Private Client Group-Discloses Customer Suits-Suwanee, GA

August 2018-Suwanee, Georgia

The FINRA records of  Eric Todd Stuckey ,  a  stockbroker who formerly worked for  Invest Financial  disclose a pending customer suit,  4 prior customer disputes and 2 currently outstanding judgment/liens.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In May 2018 a customer of Invest Financial was paid $25,000 to resolve allegations that Stuckey placed their account into high risk funds that were not suitable.

In FINRA Case 16-1532 a customer of Invest Financial was paid $14,750 to resolve allegations that Stuckey placed their portfolio into three unsuitable energy sector investments.

In currently pending FINRA Case 18-1847 a customer of Invest Financial seeks damages of $220,000 and alleges that Stuckey recommended unsuitable investments, including unsuitable annuities, and failed to disclose risks.

Stuckey discloses that the Internal Revenue Service has a tax lien against him for over $186,000.

Eric Stuckey was employed by Invest Financial from 2/2009-1/2018. He is currently employed by Ameriprise Financial Services. Stuckey operates Cornerstone Private Client Group in Suwanee, GA.

If you have losses in an account  handled by Eric Stuckey , contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Michael J. Pepe-Ameriprise Broker-Subject of $750,000 Customer Suit-Tampa, FL

August 2018-Tampa, Florida

The FINRA records of  Michael J. Pepe,  a  stock broker who is currently employed by Ameriprise Financial Services ,  disclose a recently filed customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In FINRA Case 18-1785   a customer of Ameriprise and Pepe’s prior employer JHS Capital Advisors alleges the Pepe engaged in unauthorized trading in unsuitable securities and seeks damages of $750,000.

Michael Pepe discloses prior six figure settlements with customers who alleged unsuitable and unauthorized trading in their accounts.

Pepe has been employed with Ameriprise since 8/2015. He was employed by JHS Capital Advisors from 3/2010-8/2015.

If you have losses in an account handled by Michael Pepe call for a no charge consultation to discuss your legal options for recovery.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Steven Yellen-Former Ameriprise Broker-Discloses Discharge from Employment-El Paso, Texas

February 2018 – El Paso, Texas

According to publicly available records Steven T. Yellen , (CRD# 1281663) ,  a  stockbroker who is not currently registered with any broker dealer and who was last employed by Ameriprise Financial Services disclose that he was recently discharged by Ameriprise Financial Services.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In January 2018 Ameriprise discharged Yellen and made the following allegation on his FINRA record: “Registered representative was discharged for violations of company policy related to outside business activities and options trading.”

Yellen was the subject of a customer dispute while employed by Morgan Stanley Smith Barney. In 11/2015 Morgan Stanley paid a customer $5,000 to resolve allegations that Yellen did not follow instructions to transfer stocks to their children.

Yellen was employed by Ameriprise Financial Services from 3/2016-1/2018.

If you have questions about an account in an account handled by Steven Yellen , contact us for a no charge consultation to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Larry Boggs-Former Ameriprise Broker-Sanctioned for Overtrading Accounts of Elderly Customers-Dallas, TX

February 2018-Dallas, TX

Larry M. Boggs,  a  former stockbroker who worked for Wedbush Securities and Ameriprise Financial Services in Dallas was permanently barred from the securities industry by FINRA in January 2018.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In the recent regulatory agreement Boggs, without admitting or denying the findings, consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading in the accounts of customers, including several customers who were over 80 years of age. The customers accounts were designated conservative or moderate risk tolerance however the high frequency trading strategy employed by Boggs would have required the customers to earn 15% annually just to break even on the commissions and trading costs. FINRA AWC 2015045518901

 

Boggs was employed by Wedbush Securities from 5/2015-7/2016 and was with Ameriprise Financial from 10/2009-5/2015 when he was discharged for violations of company policy related to discretionary trading and suitability.

If you are a former customer of Larry Boggs and have suffered losses in your account , contact us to discuss how you may be able to recover damages for those losses through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870