Raymond James Discharges Financial Advisor, Douglas Gildenmeister, For Allegations That He Engaged In Unauthorized Trading
Douglas Gildenmeister (CRD # 801713) is a Financial Advisor at Ameriprise Financial Services in Bellevue, OH. Douglas Gildenmeister has been in the securities industry since 1974 and previously worked at Raymond James, Wachovia Securities, Advest, and Merrill Lynch.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Raymond James “discharged” Douglas Gildenmeister in October 2019 for allegations that he engaged “in unauthorized trading by taking discretion in non-discretionary accounts and taking trading instructions from an unauthorized individual.
In addition, Douglas Gildenmeister has been the subject of three customer complaints, including the following:
- July 1995 – “ALLEGES MISREPRESENTATION AND FRAUD.” The matter settled for $62,500.
- May 1995 – “ALLEGES OPTION AND MARGIN ACCOUNT WAS UNSUITABLE AND EXCESSIVE TRADING.” The matter settled for $55,000.
For a copy of Douglas Gildenmeister’s CRD, click https://brokercheck.finra.org/individual/summary/801713.
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.
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