Kim Dee Isaacson (Kim Isaacson) Fired by Ameriprise Financial Services, Inc. and Barred from Securities Industry – Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses - Kim Dee Isaacson (Kim Isaacson) Fired by Ameriprise Financial Services, Inc. and Barred from Securities Industry

From 2014 until Kim Isaacson’s firing in 2017, Kim Isaacson was licensed withAmeriprise Financial Services, Inc. Kim Isaacson was previously licensed with Morgan Stanley. According to FINRA’s records, Kim Isaacson was fired by Ameriprise Financial Services, Inc. on July 26, 2017. Ameriprise Financial Services, Inc. reported to FINRA that Kim Isaacson was fired after consenting to a permanent bar from the industry related to rule violations that occurred at a prior firm.

According to FINRA’s records, Kim Isaacson resigned from Morgan Stanley, a prior employer, on February 6, 2014. Morgan Stanley Wealth Management reported to FINRA that Kim Isaacson was accused of allegations that Kim Isaacson verbally provided a client inaccurate information about the client’s account performance.

Prior to Kim Isaacson’s firing by Ameriprise Financial Services, Inc. FINRA investigated Kim Isaacson and brought a disciplinary action against Kim Isaacson. Kim Isaacson was barred from the securities and investment banking industry by the Financial Industry Regulatory Authority (FINRA) on July 25, 2017. FINRA reports that Kim Isaacson consented to the sanction and to the entry of findings that during telephone calls with a customer, Kim Isaacson intentionally and repeatedly provided the customer with false information about the actual value of the customer’s firm accounts. The findings stated that Kim Isaacson knew the customer relied upon Kim Isaacson for accurate account information and, because of Kim Isaacson’s misrepresentations and omissions, by January 2014, the customer believed his firm accounts held $3.1 million more than their actual value. According to FINRA, Kim Isaacson also intentionally told the customer that Kim Isaacson sold the shares of a security and long-term bonds he had purchased in the customer’s accounts when, in fact, Kim Issacson did not do so. According to FINRA, Kim Isaacson knew that Kim Isaacson’s representations to the customer about Kim Isaacson’s daily account values and trading activities were false and misleading.

FINRA reports that an arbitration claim was filed involving Kim Isaacson’s conduct with Morgan Stanley Smith Barney, LLC. This arbitration claim did not settle and proceeded to final hearing. The arbitration panel found Kim Isaacson and Morgan Stanley Smith Barney jointly and severally liable for failure to supervise, negligent supervision, breach of fiduciary duty, unsuitable investments and fraud. The arbitration panel ordered Kim Isaacson and Morgan Stanley Smith Barney to pay Claimants $993,989 as disgorgement of brokerage fees and commissions paid by Claimants to Morgan Stanley Smith Barney and $2,593,000 representing the difference between the actual account balance and the value verbally reported to Claimant Melton by Kim Isaacson. The Panel found that Kim Isaacson testified that Kim Isaacson lied to Claimant (Melton) about the balances in Melton’s portfolio and that Kim Isaacson knew that Melton relied on Kim Isaacson’s oral representations. The arbitration panel also found that Morgan Stanley Smith Barney perpetuated the fraud by failing to supervise and monitor the ongoing fraud over a period of four years. 

If you lost any money on investments with Kim Isaacson, you may be able to recover your losses from Ameriprise Financial Services, Inc. and/or Morgan Stanley. This is because Ameriprise Financial Services, Inc. and Morgan Stanley had a duty to supervise Kim Isaacson.  

If you lost money on investments with Kim Isaacson and believe 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. and/or Morgan Stanley concerning Kim Isaacson’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 investments with Kim Isaacson 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.   

 

Keywords: Kim Dee Isaacson, Kim Isaacson, FINRA, Morgan Stanley, Ameriprise Financial Services, SEC, Fraud, Attorney, Broker, Brokerage, Firm, Brokerage Firm, Invest, Lawyer, Securities Lawyer, Goodman and Nekvasil, Nekvasil, Goodman, Investor, Investment, Financial, Financial Services, Securities 

Back to Blogs

Contact Us For a Free Consultation

 
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
12 + 5 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.