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Broker Michelle Kern Barred from Securities Industry

Michelle KernAccording to records provided by the Financial Industry Regulatory Authority (FINRA), former California-based Ameriprise broker Michelle Kern is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Ms. Kern (CRD# 4528809).

Michelle Kern has spent ten years in the securities industry and was most recently registered with Ameriprise Financial Services in Roseville, California (2002-2013). She was previously registered with IDS Life Insurance Company in Minneapolis, Minnesota (2002-2006). She is currently not registered with any state or firm.

According to her BrokerCheck report, Michelle Kern is the subject of thirteen customer complaints and one regulatory sanction, and was discharged from her position at Ameriprise Financial Services.

In 2014 FINRA sanctioned Michelle Kern following allegations she unlawfully converted approximately $569,000 of customer funds to her own use through unauthorized withdrawals, using said funds to pay her personal credit card bills. FINRA additionally alleged that Ms. Kern used customer checks to convert approximately $100,000 in funds to pay her own personal credit card bills. According to FINRA, she “accepted checkbooks from two customers to destroy and instead of destroying them, she forged customer signatures and wrote personal checks to herself.” Ms. Kern was permanently barred from associating with any FINRA member firm in any capacity.

In 2013 a customer alleged Kern, while employed at Ameriprise Financial Services, misappropriated funds. The complaint settled for $60,258.

  • In 2013 a customer alleged Michelle Kern, while employed at Ameriprise Financial Services, misappropriated assets and recommended an unsuitable variable annuity. The complaint settled for more than $77,300.
  • In 2013 a customer alleged Kern, while employed at Ameriprise Financial Services, misappropriated funds. The complaint settled for more than $41,700.
  • In 2013 a customer alleged Michelle Kern, while employed at Ameriprise Financial Services, misappropriated funds. The complaint settled in 2014 for more than $61,800.
  • In 2013 a customer alleged Kern, while employed at Ameriprise Financial Services, misappropriated funds. The complaint settled for $7,050.
  • In 2013 a customer alleged Michelle Kern, while employed at Ameriprise Financial Services, misappropriated funds. The complaint settled for more than $342,700.
  • In 2013 a customer alleged Michelle Kern, while employed at Ameriprise Financial Services, misappropriated funds. The complaint settled for more than $64,200.
  • In 2012 Kern was discharged from her position at Ameriprise Financial Services following allegations she misappropriated client funds.

If you or someone you know has a complaint regarding Michelle Kern, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup losses. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free