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Customer Complaints: Robert Cline (Ameriprise)

Robert ClinePublic records provided by the Financial Industry Regulatory Authority (FINRA) on June 16, 2016 indicate that Michigan-based Ameriprise Financial Services broker/adviser Robert Cline has received numerous customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Cline (CRD# 824874).

Robert Cline has spent 39 years in the securities industry and has been registered with Ameriprise Financial Services in Shelby Township, Michigan since 2014. Previous registrations include Oppenheimer & Company in Rochester, New York; Ferris Baker Watts in Auburn Hills, Michigan; Merrill Lynch in New York, New York; Lehman Brothers in New York, New York; EF Hutton & Company; First of Michigan Corporation; and Manley Bennett McDonald & Company. He is a registered broker and investment adviser with eleven US states and territories: Arizona, California, Colorado, Delaware, Florida, Georgia, Michigan, New York, Oregon, South Carolina, and Tennessee.

According to his BrokerCheck report, Robert Cline has been the subject of six customer complaints.

In 2002, a customer alleged Robert Cline, while employed at Merrill Lynch, recommended unsuitable stocks and executed excessive trades. The complaint settled in 2004 for $40,000.

In 2002, a customer alleged Robert Cline, while employed at Merrill Lynch, recommended an unsuitable annuity exchange. The complaint settled in 2003 for more than $94,000.

In 1999, a customer alleged Robert Cline, while employed at Merrill Lynch, acted negligently, breached contract, and breached his fiduciary duty. The complaint resulted in an award to the customer of $19,688.

In 1998, a customer alleged Robert Cline, while employed at Merrill Lynch, recommended unsuitable investments. The complaint settled in 2002 for $19,688.

In 1990, a customer alleged Robert Cline, while employed at Lehman Brothers, misrepresented material facts and mismanaged the account. The complaint resulted in an award to the customer of $5,660.

In 1984, a customer alleged Robert Cline, while employed at Manley Bennett McDonald & Company, did not properly explain the risks associated with margin. The complaint settled for $13,000, to which Mr. Cline individually contributed $13,000.

If you have lost money investing with Robert Cline, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.