Ameriprise Financial signs on $444 million team from FSC Securities
Dale Cebert, a former Morgan Stanley broker who won an arbitration case against the firm, heads the seven-person team in Florida.
Ameriprise Financial Inc. has signed on a $444 million team from FSC Securities Corp.
Dale Cebert, a financial adviser based in The Villages, Fla., was with FSC Securities for four years before joining Ameriprise. Mr. Cebert, whose new title is private wealth adviser and president, is joined by fellow former FSC Securities advisers Chad Noble, Mark Dickerson, Keriann Mitchell, Alec Thomas and Scott Maxwell. The franchise field vice president is Brian Mora.
“We chose Ameriprise because it was the best fit for our clients and our practice when we considered culture, technology, platform, and brand recognition,” Mr. Cebert said in a press release. “With all the consolidation going on in the industry, we wanted a partner that has the resources and vision to help us excel now and in the future.”
Mr. Cebert, who has 20 years of experience in the securities industry, previously won a Finra arbitration dispute against Morgan Stanley Smith Barney in 2016. Following his termination from the investment bank in 2014, Morgan Stanley alleged that Mr. Cebert had drawn multiple customer complaints, resulting in disclosures that went on his public record.
After a legal battle, Mr. Cebert won $2.4 million and got his former employer to clear the record on his U-5, or termination form, a rare victory for brokers who have tried to extract the same motion from former firms. His current BrokerCheck profile has two remaining disclosures, a regulatory action and customer dispute, from his time at the bank.
(More: Morgan Stanley case shows how firms smear departing brokers)
Mr. Noble has 14 years of experience across five firms in the securities industry. Prior to FSC Securities, he worked at Morgan Stanley, National Planning Corp. and Securities America Inc., according to his BrokerCheck profile.
Mr. Dickerson has 21 years of experience across nine firms. According to BrokerCheck, he was formerly employed at Morgan Stanley, National Planning Corp., Wells Fargo Advisors, Morgan Stanley & Co. Inc., Morgan Stanley DW Inc., UBS Painewebber Inc. and Edward D. Jones & Co.
Ms. Mitchell has seven years experience across five firms, according to BrokerCheck. She was formerly employed at Morgan Stanley, Valmark Securities Inc. and National Planning Corp.
Mr. Thomas is a financial adviser with seven years experience at four firms, including Morgan Stanley and National Planning Corp., according to BrokerCheck.
Mr. Maxwell has five years experience. BrokerCheck lists previous employment at Morgan Stanley.
(More: Wells Fargo Advisors to fire back against former brokers suing it)
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