Timothy John Knutson (Timothy Knutson) Suspended from Securities Industry and Permitted to Resign From Ameriprise Financial Services, Inc. – Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses - Timothy John Knutson (Timothy Knutson) Suspended from Securities Industry and Permitted to Resign from Ameriprise Financial Services, Inc.

From 2011 until Timothy Knutson’s resignation in 2015, Timothy Knutson was licensed with Ameriprise Financial Services, Inc. According to FINRA’s records, Timothy Knutson was permitted to resign from Ameriprise Financial Services, Inc. on July 9, 2015. Ameriprise Financial Services, Inc. reported to FINRA that Timothy Knutson was permitted to resign for company policy violations related to discretion in a non-discretion account.

Subsequent to Timothy Knutson’s resignation from Ameriprise Financial Services, Inc. FINRA investigated Timothy Knutson and brought a disciplinary action against Timothy Knutson. Timothy Knutson was fined $5,000 and suspended for 5 months from the securities and investment banking industry on September 28, 2016. FINRA reports that Timothy Knutson consented to the sanctions and to the entry of findings that Timothy Knutson placed trades in Timothy Knutson’s customers’ accounts without obtaining the customers’ approval, although Timothy Knutson knew that Timothy Knutson’s employing member firm prohibited discretionary trading in those accounts. The findings stated that when the firm investigated those trades, Timothy Knutson falsely stated that Timothy Knutson contacted the customers before placing the trades.

If you lost any money on investments with Timothy Knutson, 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 Timothy Knutson. 

If you lost money on investments with Timothy Knutson 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 Timothy Knutson’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 Timothy Knutson 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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