FINRA Expungement Award:
30-Year Veteran Wins Expungement Of 5 Customer Complaints
*If you're under FINRA or SEC investigation, or if you have a meritless disclosure on your BrokerCheck, CRD, or IAPD record, call us right now at (303) 952-4025 or click here for a priority consultation at no charge.
Award Date: January 26, 2021
Hearing Site: Milwaukee, Wisconsin
Respondent Firm: Ameriprise Financial Services, LLC
Claimant Representative: Harris Freedman, J.D. and Dochtor Kennedy, MBA, JD
A financial advisor from Minneapolis had five customer complaints that had arisen over his 30-year career. He sought FINRA expungement of the complaints from his Central Registration Depository (CRD) record and online BrokerCheck profile.
All three complaints in question arose from customers having alleged that they had not been properly informed of the risks and costs of variable annuities and that the products had not been not suitable for the investors at the time of sale.
Contact us today for a complimentary consultation!
After considering the pleadings, pursuant to FINRA Rule 13805 of the Code of Arbitration Procedure, the FINRA Arbitrator found that the evidence did not support any of the allegations against the advisor. The Arbitrator determined that the allegations were factually impossible or clearly erroneous, and the disclosures being reported to BrokerCheck were false.
Additionally, in regard to two of the disputes, the Arbitrator found that the financial advisor had not even been involved with the transactions referenced in the complaints.
If you'd like to learn more about AdvisorLaw's Disclosure Expungement services, please fill out the contact form below. Our consultations are complimentary, and our services were created exclusively for financial advisors.