Public records published by the Financial Industry Regulatory Authority (FINRA) on November 4th, 2016 indicate that Utah-based Ameriprise Financial Services broker/adviser Kim Isaacson has been named in a pending FINRA investigation. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Isaacson (CRD# 855618).
Kim Isaacson has spent thirty-eight years in the securities industry and has been registered with Ameriprise Financial Services in Midvale, Utah since 2014. Previous registrations include Morgan Stanley in Salt Lake City, Utah; Morgan Stanley & Company Inc. in Salt Lake City, Utah; UBS Financial Services in Salt Lake City, Utah; Piper Jaffray & Company in Salt Lake City, Utah; Dain Rauscher Inc. in New York, New York; Dain Rauscher Inc.; Painewebber in Weehawken, New Jersey; Shearson Lehman Brothers; Foster & Marshal; Paine Webber Jackson Curtis; EF Hutton & Company; and North American Management. He is a registered broker and investment adviser in fifteen US states and territories: Arizona, California, Colorado, Georgia, Idaho, Nevada, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Texas, Utah, Virginia, and Wyoming.
According to his BrokerCheck report, Kim Isaacson has received one customer complaint, one pending customer complaint and one FINRA investigation, and resigned from his position at Morgan Stanley.
In April 2016 FINRA announced an investigation into allegations that Kim Isaacson participated in “potential violations under FINRA Rule 2010: making verbal misrepresentations to a Firm customer about the customer’s account values and performance.” FINRA Rule 2010, for reference, stipulates that FINRA members must “observe high standards of commercial honor and just and equitable principles of trade.” The investigation remains pending.
In February 2016 a customer alleged Kim Isaacson, while employed at Morgan Stanley, misrepresented and recommended unsuitable investments. The customer is seeking unspecified damages in the pending complaint.
In 2014 a customer alleged Kim Isaacson, while employed at Morgan Stanley, effected unauthorized transactions, committed fraud, acted negligently and grossly negligently, breached his fiduciary duty, breached contract, recommended unsuitable investments, and misrepresented material facts related to the customer’s account balances. The complaint resulted in an award to the customer in June 2016 of $3,586,989.
In 2014 Kim Isaacson submitted his “voluntary resignation” from Morgan Stanley following allegations he “verbally provided a client inaccurate information about the client’s account performance.”
If you or someone you know has lost money investing with Kim Isaacson, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect 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.