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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.

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 mwolper@wolperlawfirm.com.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]