The Financial Industry Regulatory Authority has banned former Ameriprise representative Shawn Parker for falsifying $25,000 in client entertainment expenses that were reimbursed by a wholesaler.
In a letter of acceptance, waiver and consent, Finra noted that Parker, of Schaumburg, Illinois, “was permitted to resign [from Ameriprise] on June 8, 2020, following disciplinary action for compliance policy violations related to the wholesaler reimbursement process.”
Finra said that Parker directed the submission of reimbursement requests to Ameriprise in connection with annual client events that she sponsored through wholesaler contributions.
The reimbursement requests included falsified invoices that overstated by a total of $25,000 the amount of reimbursable expenses she had incurred at the events. Parker was reimbursed for substantially all the amounts she requested.
According to her BrokerCheck report, Parker had been affiliated with Ameriprise since 1987.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.