Ameriprise Financial Services Broker, Joseph Peggs, Has Eight Disclosed Customer Complaints Alleging Various Sales Practice Violations
Joseph Peggs (CRD # 121971) is a Financial Advisor at Ameriprise Financial Services, Inc. in Seminole, FL. Joseph Peggs has been in the securities industry since 1984 and previously worked at Planmember Securities Corporation, AXA Advisors, LLC, Woodbury Financial Services, Inc. Jefferson Pilot Securities Corporation, NFP Securities, Inc. and FFP Securities, Inc.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Joseph Peggs has eight disclosed customer complaints during his. Among the customer complaints are the following:
- June 2019 – “Plaintiffs, the estate of a decedent and the decedent’s ex-wife, allege that AFSI, Peggs and several other defendants failed to carry out the decedent’s intentions regarding beneficiary designations for two annuities.”
- February 2019 – “Client alleges that the representative placed them in an unsuitable holding when they rebalanced the portfolio in March of 2015 and that the holding in question then lost significant value.” The matter settled for $15,000.
- May 2017 – “The client’s attorney alleged there were unauthorized transactions on his account(s).” The matter settled for $38,221.04.
- June 2003 – “CLIENT ALLEGES REPRESENTATIVE MADE GUARANTEES REGARDING THE FUTURE VALUE OF A LIFE INSURANCE CONTRACT, WHICH THE CLIENT PURCHASED IN NOVEMBER 2002.” The matter settled for $50,000.
In addition, in 2003, Joseph Peggs was censured by the NASD for failing to describe variable annuities in a balanced way, including omitting material information regarding, costs, risk and restrictions.
For a copy of Joesph Pegg’s CRD, click https://brokercheck.finra.org/individual/summary/1219721#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at firstname.lastname@example.org.
- Former West Park Capital, Inc. and Laidlaw & Company LTD Broker, Bryan Mazliach, Investigated By FINRA For Alleged Violation Of FINRA Rules
- Former BMO Harris Financial Advisors, Inc. Broker, Lori Ann Sacco, Suspended Six Months By FINRA For Allegedly Altering Customer Account Documents
- Former Woodbury Financial Services, Inc. Broker, Jodie Lane, Suspended Six Months By FINRA For Allegedly Accepting Gifts And Becoming Beneficiary Of A Client
- Broker, Kimberley Schkade-Hill, Supsended by FINRA For Four Months And Fined $10,000 For Allegedly Having Clients Sign Documents In Blank
- LPL Financial LLC Broker, Matthew Clason, Is The Subject Of An SEC Enforcement Action For Allegedly Stealing Hundreds Of Thousands Of Dollars From A Client
- Former Capitol Securities Management Inc. Broker, Michael Rubel, Suspended By FINRA For 45 Days For Allegedly Engaging In Short-term Trading Of Unit Investment Trusts
- Recovering Your Investment Losses In Non-Traded Real Estate Investment Trusts And Business Development Companies
- Former Westpark Capital, Inc. Broker, Hary Datys, Suspended By FINRA For Fifteen Months For Allegedly Failing To Conduct Due Diligence Before Selling Promissory Notes
- Former Ameriprise Financial Services, LLC Advisor, Arthur Hoffman, Barred By FINRA For Allegedly Failing To Provide Documents In Relation To Investigation Into Outside Business Activities
- Crown Capital Securities Broker, Kenneth Barroga, Has Had Four Customer Complaint Disclosures