Published On: July 15, 2015

A former Ameriprise financial adviser, Li-Lin Hsu, is accused of claiming she was still an employee with Ameriprise, when she wasn’t. Hsu was fired by the firm earlier this year for listing herself as a client beneficiary, which, she also was not. The client claims he lost $10,000 with Hsu. She will most likely face a Financial Industry Regulatory Authority (FINRA) action. Hsu was fired on March 27 for listing herself as a client beneficiary. The client was her mother, and Hsu claims she forgot to inform Ameriprise of her beneficiary status. That is a violation of company policy related to maintaining a beneficiary relationship with a client, complaint handling, comingling of funds and conducting business with a foreign client. She then claimed to still be employed by Ameriprise on her Facebook and LinkedIn pages. The posts were a violation of company policy, as well. She used Ameriprise trademarked wording and symbols that the company uses to market proprietary marketing content.

Li-Lin Hsu was registered with Ameriprise in Minneapolis, Minnesota and Los Angeles, California from November 2005 until April 2015. She has one customer dispute against her which is currently pending. She is not currently registered with any FINRA member firm. If you would like to sue Li-Lin Hsu, you may, through the FINRA arbitration process. Her former firm, Ameriprise, may be liable for her actions because of their failure to reasonably supervise her. We are securities attorneys based in Chicago, Illinois and take cases on a contingency fee basis. 312-332-4200.

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