Stuart L. Pearl (Stu Pearl) Suspended from the Securities Industry and Fired by Ameriprise Financial Services, Inc. – Goodman & Nekvasil P.A., May Recover Investor Losses
Goodman & Nekvasil P.A., May Recover Investor Losses - Stuart L. Pearl (Stu Pearl) Suspended from the Securities Industry and Fired by Ameriprise Financial Services, Inc.
From 2010 until Stu Pearl’s firing in 2015, Stu Pearl was licensed with Ameriprise Financial Services, Inc. Stu Pearl is now licensed with David A. Noyes & Company. According to FINRA’s records, Stu Pearl was fired by Ameriprise Financial Services, Inc. on June 30, 2015. Ameriprise Financial Services, Inc. reported to FINRA that Stu Pearl was suspended on June 22, 2015 and subsequently fired on June 30, 2015 for company policy violations related to the use of discretion in non-discretionary accounts and complying with supervision.
Subsequent to Stu Pearl’s termination from Ameriprise Financial Services, Inc. FINRA investigated Stu Pearl and brought a disciplinary action against Stu Pearl. FINRA reports that Stu Pearl consented to a $7,500 fine and a 45 day suspension from the securities and investment banking industry. According to FINRA, Stu Pearl also consented to findings that Stu Pearl effected securities transactions in a customer’s account on several occasions on a discretionary basis without prior written authorization from the customer and without prior written acceptance of the account as discretionary from Stu Pearl’s member firm. The findings also stated that Stu Pearl made unsuitable recommendations in customers’ joint brokerage account when Stu Pearl recommended the customers use margin to effect several trades. According to FINRA, the recommendations made by Stu Pearl to purchase securities on margin were unsuitable in light of the customers’ investment objectives, risk tolerance, and their financial situation and needs.
FINRA reports that a complaint was filed involving Stu Pearl’s conduct with Ameriprise Financial Services, Inc. This complaint alleged unauthorized trading and use of margin and was settled for $55,000.
FINRA also reports that two arbitration claims involving Stu Pearl’s conduct with Ameriprise Financial Services, Inc. and/or Stu Pearl’s previous firms both settled. These arbitration claims settled for $410,000 and $115,000 in total.
If you lost any money on investments with Stu Pearl, you may be able to recover your losses from Ameriprise Financial Services, Inc. and/or David Noyes & Company. This is because Ameriprise Financial Services, Inc. and David Noyes & Company had a duty to supervise Stu Pearl.
If you lost money on investments with Stu Pearl 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. and/or David Noyes & Company concerning Stu Pearl’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 has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Stu Pearl 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: Stuart Pearl, Pearl, Stu Pearl, Ameriprise Financial, David Noyes, FINRA, SEC, Fraud, Attorney, Broker, Brokerage, Firm, Brokerage Firm, Invest, Lawyer, Securities Lawyer, Goodman and Nekvasil, Nekvasil, Goodman, Investor, Investment, Financial, Financial Services, SecuritiesBack to Blogs