Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on October 3, 2016 indicate that former Kansas-based Ameriprise Financial Services broker John Elliot was recently terminated from Ameriprise. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Elliot (CRD# 5981598).
John Elliot has spent four years in the securities industry and was most recently registered with Ameriprise Financial Services in Overland Park, Kansas (2011-2016). He is currently not registered with any state or firm.
According to his BrokerCheck report, John Elliot was discharged from his position at Ameriprise Financial Services.
In August 2016 John Elliot was terminated from his position at Ameriprise Financial Services following allegations of “compliance policy violations related to selling away.”
“Selling away” refers to the purchase, solicitation, or sale by a securities professional of products not offered by his/her member firm. Selling away transactions are typically also not included in the firm’s official records. Both FINRA rules and federal securities law forbid selling away: FINRA Rule 3040 states that “No person associated with a member shall participate in any manner in a private securities transaction” unless the transaction complies with numerous terms, including written authorization from the member firm. Investment professionals who engage in selling away may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have suffered losses while investing with John Elliot, you may be entitled to a recovery. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.