Articles Tagged with ameriprise

The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Barry D. Abrams.  Mr. Abrams is currently employed and registered with Ameriprise Financial Services, Inc., and works at the broker-dealer’s Marlton, New Jersey office, according to his publicly available BrokerCheck records maintained by the Financial Industry Regulatory Authority (FINRA).

Per his BrokerCheck report, Mr. Abrams was previously employed and registered by Securities Service Network, Inc. from 2001 to 2013 and was discharged from that firm for “exercise[ing] discretion in a client account without written authorization from the client and without firm approval.”  Prior to his employment and dismissal from Securities Service Network, Inc., Mr. Abrams was employed and registered with Morgan Stanley from 1995 to 2001, according to BrokerCheck records.

In 2015, Mr. Abrams was fined and suspended from association with any FINRA member broker-dealer for 15 business days by FINRA, after submitting a Letter of Acceptance, Waiver and Consent No. 2013039371801 (AWC).  According to the AWC, Mr. Abrams violated NASD Conduct Rule 2510(b) (Discretionary Accounts) and FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) by placing discretionary transactions in a customer’s account without first obtaining prior written authorization from the customer and acceptance by the firm for such discretionary trading.

The investment fraud attorneys at Malecki Law are interested in hearing from investors who have complaints financial advisor Thomas E. Stratton-Crooke of Ameriprise Financial Services, Inc., based out of Beachwood, OH.

Records from the Financial Industry Regulatory Authority (“FINRA”)  indicate that Mr. Stratton-Crooke has been suspended by FINRA for 10 business days and fined $10,000 for improperly executing discretionary transactions in customer accounts without prior written authorization from the customer or authorization from his firm.

According to his BrokerCheck Report, Mr. Stratton-Crooke was discharged by Merrill Lynch in 2014, after 25 years with the firm, for what is believed to be the same misconduct that led to his suspension by FINRA.

The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Jared Cohen.  Mr. Cohen is reportedly registered with Ameriprise Financial Services, Inc., based out of Armonk, NY.  He has also recently been registered with IDS Life Insurance Company, according to industry records.

According to BrokerCheck, as maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Cohen has been the subject of two customer complaints in the past six years.  Mr. Cohen has been the subject of complaint alleging misrepresentations of investment risk and over-concentration in non-traded Real Estate Investment Trusts (“REITs”), as well as misrepresentations surrounding the sale of preferred stock recommendations, per FINRA records.

Of these customer disputes, FINRA records indicate that one customer initiated a FINRA arbitration and recovered $25,000 in a settlement with Ameriprise.