Ameriprise Fires Advisor For Unauthorized Trading
Cheryle Anne Brady, of Hingham, Massachusetts, an advisor registered with Ameriprise Financial Services Inc., was fired on September 7, 2016, based upon accusations that she traded in customer accounts without authorization; the firm claimed that she exercised discretion in accounts that were not approved by the firm for purposes of discretionary trading.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Brady has been subject of three additional customer initiated investment related disputes concerning allegations of her misconduct while employed with UBS Financial Services Inc. Specifically, on April 17, 2002, a customer filed an investment related written complaint involving Brady’s conduct, in which the customer sought damages estimated at $5,000.00 founded on allegations that Brady made misrepresentations to the customer about a variable annuity.
Subsequently, on January 4, 2004, a customer initiated investment related arbitration claim regarding Brady’s activities was resolved for $46,554.00 in damages supported by accusations that Brady made unsuitable investment recommendations to the customer and effected the purchase of over-the-counter equities transactions even though the investment were not suitable for the customer.
Further, on November 8, 2006, a customer initiated investment related written complaint regarding Brady’s activities was resolved for $40,000.00 in damages resting upon allegations that Brady placed mutual fund purchases in the customer’s investment account without authorization, and effected bond and preferred stock transactions that were not suitable for the customer due to the customer’s financial circumstances and age.
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