According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Geraldine Gordon allegedly recommended that a customer invest half of her liquid net worth in a single MLP, or Master Limited Partnership focused on the energy sector. She put almost $334,000 into the MLP, which was unsuitable for the customer because it was an excessive amount of the customer’s net worth, and the MLP was risky and illiquid, like many investments concentrated in the oil, gas and energy sectors. Gordon’s financial firm at the time, Ameriprise Financial, may be responsible for any money losses because the firm had a responsibility to reasonably supervise her. Gordon was fined $7,500 and suspended for 10 business days.
Ms. Gordon was registered with IDS Life Insurance Company in Minneapolis, Minnesota from December 1994 until July 2006. She is currently registered with Ameriprise in Lexington, Kentucky and has been since December 1994. She has seven customer disputes against her. Please call 312-332-4200 today if you suffered losses with Ms. Gordon. We are securities attorneys who may be able to help you recover those losses on a contingency fee basis.
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