Goodman & Nekvasil P.A., May Recover Investor Losses on Covered Call Strategy – Scott Nolan Smith (Scott Smith) Suspended from Securities Industry and Fired by Ameriprise Financial Services, Inc.
From 2009 until Scott Smith’s firing in 2013, Scott Smith was licensed with Ameriprise Financial Services, Inc. According to FINRA’s records, Scott Smith was fired by Ameriprise Financial Services, Inc. on January 28, 2013. Ameriprise Financial Services, Inc. reported to FINRA that Scott Smith was terminated for company policy violations related to soliciting securities without approved research, mismarking trade tickets, use of an unsuitable option strategy and discretion.
Subsequent to Scott Smith’s firing by Ameriprise Financial Services, Inc., FINRA investigated Scott Smith and brought a disciplinary action against Scott Smith. Scott Smith was fined $10,000 and suspended for 90 days from the securities and investment banking industry on January 20, 2015. FINRA reports that Scott Smith consented to the sanctions and to the entry of findings that Scott Smith mismarked as unsolicited order tickets for thousands of solicited trades. The findings stated that by mismarking the order tickets for these trades, Scott Smith caused Scott Smith’s member firm’s books and records to be inaccurate.
FINRA also reports that two previous arbitration claims involving Scott Smith’s conduct with prior employers were both settled. These claims alleged churning, suitability, misrepresentation, and/or failure to supervise.
If you lost any money on investments with Scott Smith, including Scott Smith’s covered call strategy 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 Scott Smith.
If you lost money on investments with Scott Smith, including Scott Smith’s covered call strategy, 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 Scott Smith’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.
Our firm has a unique, unparalleled track record. Kalju Nekvasil, Esq., has not lost a securities arbitration case in more than 13 years. Goodman & Nekvasil, P.A. has recovered more than $170 million on behalf of victimized investors. If you lost money on investments with Scott Smith, including Scott Smith’s covered call strategy, 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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