Mark Wesley, a former broker with Ameriprise Financial Services in Independence, Ohio, was recently permitted to resign from the firm in June 2016. Wesley allegedly used unauthorized trading, the use of discretion in a non-discretionary account and the supervision of staff, and responding to supervision. According to Financial Industry Regulatory Authority (FINRA) rules, investment representatives are prohibited from “purchasing or selling securities in a customer’s account without first contacting the customer and receiving the customer’s authorization to make the sale or purchase, unless the broker has received from the customer written discretionary authority to effect transactions in the account or the broker was given discretion as to price and time.” If a broker exercises discretion without proper authorization, he may be subject to disciplinary action by FINRA or the Securities and Exchange Commission (SEC). Mr. Wesley also allegedly made unsuitable recommendations, mismanaged a customer account, and recommended unsuitable, high-risk investment products. These are all against securities rules and regulations.
Mr. Wesley was registered with IDS Life Insurance Company in Minneapolis, Minnesota from September 1994 until July 2006, and Ameriprise in Independence, Ohio from September 1994 until June 2016. He has six customer disputes against him and is not licensed within the industry. Please call us today at 312-332-4200 to speak to one of our attorneys if you lost money with Mark Wesley. We may be able to help you bring a claim against his former firm, Ameriprise, to recover your investment losses. The call is free so please call today.