Public records published by the Financial Industry Regulatory Authority (FINRA) on June 2, 2017 indicate that Ohio-based Ameriprise Financial Services broker/adviser Lorene Fairbanks, also known as Lori Miller, has received customer disputes and a FINRA sanction. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Ms. Fairbanks (CRD# 2788572).
Lorene Fairbanks has spent eighteen years in the securities industry and has been registered with Ameriprise Financial Services in Poland and Canfield, Ohio since 2014. Previous registrations include Merrill Lynch in Canfield, Ohio and Citigroup Global Markets in Canfield, Ohio. She has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); Series 31 (Futures Managed Funds Examination); Series 7 (General Securities Representative Examination); and Series 3 (National Commodity Futures Examination). She is a registered broker and investment adviser in eight US states.
According to her BrokerCheck report, she has been sanctioned by FINRA and received three customer complaints.
In 2015 a customer alleged Lorene Fairbanks, while employed at Citigroup Global Markets, breached her fiduciary duty, made misrepresentations of material facts, was negligent in her supervisory duties, churned investments, breached contract, and participated in negligent behavior. The complaint settled for $15,000.
In 2014 FINRA sanctioned her following allegations she “effected approximately 57-69 discretionary transactions in the securities accounts of seven firm customers” when she “did not have written authorization from her customers to effect discretionary trades in the customers’ accounts and her member firm had not approved her use of discretion in her customers’ accounts.” FINRA’s findings stated also that she “mismarked approximately 54-70 order tickets in the same customers’ accounts as unsolicited orders when, in fact, the trades were solicited, causing the firm to maintain inaccurate books and records.” She was issued a 30-day suspension and a fine of $10,000.
In 2012 a customer alleged Lorene Fairbanks, while employed at Merrill Lynch, effected unauthorized transactions, made material misrepresentations, and made unsuitable investment recommendations. The complaint settled or $72,000.
In 2012 a customer alleged Lorene Fairbanks, while employed at Merrill Lynch, recommended unsuitable products and effected unauthorized transactions. The complaint settled for $11,050.
In 2012 she was terminated from Merrill Lynch following allegations of “conduct including taking discretion in client accounts and mismarking orders.”
In 2011 a customer alleged Lorene Fairbanks, while employed at Merrill Lynch, made excessive trades, recommended unsuitable products, and effected unauthorized transactions. The complaint settled for $104,000.
If you or someone you know has complaints regarding Lorene Fairbanks, also known as Lori Miller, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment 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.