Ameriprise Financial—Failure to Supervise Broker

investment fraud attorney ClevelandAmeriprise Financial Allegedly Failed to Supervise a Broker who Purportedly Took Advantage of Family Members, Taking in More than $370,000 from Five Ameriprise Customers

An Ameriprise Financial allegedly failed to supervise a rep who purportedly took advantage of his family for financial gain,   according to FINRA Documents currently under review by attorneys Alan Rosca and James Booker.

Said representative, a former sales assistant and office manager, brought in more than $375,000 from five Ameriprise customers from October of 2011 through September 2013, said FINRA documents allege.

The Peiffer Rosca Wolf securities lawyers are currently investigating Ameriprise Financial’s alleged failure to properly supervise a representative.

Ameriprise Financial Fined $850,000 for Failing to Identify a Broker Who Allegedly Transferred Funds to an Account for Personal Gain.;  Broker Evidently Left Sloppy Evidence in a Trash Can

An Ameriprise Financial Rep allegedly took advantage of his domestic partner, mother, step-father, and grandparents in order to make off with $370,000,   according to FINRA Documents currently under review by attorneys Alan Rosca and James Booker.

Ameriprise, as a result, has been fined $850,000 by FINRA, according to FINRA documents. Said rep allegedly submitted request forms to transfer funds into the business bank account of the office in which he worked, allegedly to make investments, but instead took funds from that account to pay himself, FINRA notes.

The alleged acts were only uncovered after an employee reportedly found evidence in a trash can that the aforementioned broker had been practicing the signature of family member whom from whom he was working on a plan to siphon funds, FINRA notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged securities fraud scams and are currently investigating Amerprise Finacial’s alleged lack of supervision of a registered rep. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Amerprise Finacial’s alleged lack of supervision of a registered rep may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1238 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.