Geraldine Gordon Licensed with Ameriprise Financial Services, Inc. Suspended from Securities Industry – Goodman & Nekvasil P.A., May Recover Your Investment Losses

Goodman & Nekvasil P.A., May Recover Your Investment Losses - Geraldine Gordon Licensed with Ameriprise Financial Services, Inc., Suspended from Securities Industry

Geraldine Gordon has been licensed with Ameriprise Financial Services, Inc. since 1994. Geraldine Gordon was suspended from the securities and investment banking industry by the Financial Industry Regulatory Authority (FINRA) for 10 days and fined $7,500 on June 9, 2017. FINRA reports that Geraldine Gordon consented to the sanctions and to the entry of findings that Geraldine Gordon recommended that Geraldine Gordon’s customer (“WF”) liquidate a number of diversified investments in her Ameriprise Financial Services, Inc. brokerage and IRA accounts, and invest half of WF’s liquid net worth in a single Master Limited Partnership focused on the energy sector. The findings stated that the recommendation was unsuitable because the investment represented an excessive concentration of WF’s net worth. According to FINRA, The Master Limited Partnership prospectus described the investment as speculative. According to FINRA, following Geraldine Gordon’s recommendation, WF invested a total of $334,000 in the Master Limited Partnership. According to FINRA, Geraldine Gordon’s recommendation that WF invest half of WF’s liquid net worth in this single sector-focused Master Limited Partnership was not suitable for WF in light of WF’s financial condition and the excessively concentrated nature of the investment.

FINRA reports that an arbitration claim was filed involving Geraldine Gordon’s conduct with Ameriprise Financial Services, Inc., alleging unsuitable investments including: CB Richard Ellis Realty Trust/Chamber Street Properties REIT, Neuberger Berman Master Limited Partnership Fund, Inc., Clearbridge American Energy MLP Fund, and Tekla World Healthcare Fund. This arbitration claim was settled for $170,000, with Geraldine Gordon contributing $68,000. FINRA reports that two previous arbitration claims involving Geraldine Gordon’s conduct with American Express Financial Advisors were also settled. The largest of these arbitration claims settled for $300,000.

If you lost any money on investments with Geraldine Gordon, you may be able to recover your losses from Ameriprise Financial Services, Inc. This is because Ameriprise Financial Services, Inc. had a duty to supervise Geraldine Gordon.

If you lost money on investments with Geraldine Gordon and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Ameriprise Financial Services, Inc. concerning Geraldine Gordon’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years.  Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on other investments with Geraldine Gordon and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.

 

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