Ameriprise Financial Services, LLC broker Shawn Bumgardner (CRD# 2492380) is accused of variable annuity investment losses. He has been registered with Ameriprise Financial Services, LLC in Southgate, Michigan, since 1994.
Shawn Bumgardner Customer Complaints
He has been the subject of three customer complaints, two of which were denied, according to his CRD report:
October 2022. “Shawn Bumgardner was a subject of the customer’s complaint against his member firm that asserted the following causes of action: violation of the Michigan Uniform Securities Act; negligence; failure to act in Claimant’s best interest; misrepresentation and omission of material facts; violations of other industry standards of care, including FINRA Rules 2010, 2090, 2020, and 3110; breach of fiduciary duty; breach of contract; and respondeat superior.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint was regarding variable annuity investment losses, and it took place while he was registered with Ameriprise Financial Services, LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Ameriprise Financial Services, LLC may be liable for investment or other losses suffered by Shawn Bumgardner’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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