DID JAMES F. ANDERSON CAUSE YOU INVESTMENT LOSSES?
James F. Anderson formerly with Ameritas Investment Corp. Has 2 Customer Complaints for Alleged Broker Misconduct in the Past 2 Years
Who is James F. Anderson formerly with Ameritas Investment Corp.?
James Anderson (CRD #4803514) who was formerly registered with Ameritas Investment Corp. and located in Dakota Dunes, South Dakota is a subject of one of our many securities industry sales practice abuse investigations. He was terminated by Ameritas Investment Corp.
In February 2019 upon the conclusion of an internal investigation which indicated that he had engaged in sales of indexed annuities and promissory notes “away from the firm” meaning had not requested authority and the firm did not approve those sales.
Apparently, that was not the first James Anderson engage in what is commonly known as “selling away” in the industry. His regulatory record indicates that in 2013, Ameritas Investment Corp. compliance Department conducted an examination and discovered he sold indexed annuities that were not listed on the firm’s approved list 6 years prior to his termination.
Following James Anderson’s termination from Ameritas Investment Corp., FINRA initiated an investigation and requested documents and information from him. Apparently, he refused to cooperate with the investigation which is in violation of FINRA Rule 8210. Rather than cooperate, James Anderson chose to enter into an agreement whereby is now permanently barred from association with any FINRA member firm in any capacity forever.
Ameritas Investment Corp. Broker Misconduct
In his career, James Anderson has been the subject of 2 customer complaints that we know about, both of those complaints were filed in the last 2 years to recover investment losses. Both of James Anderson’s customer complaints were settled in favor of investors, one of those complaints was settled for $1.6 million.
Allegations Against James Anderson
A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:
- The customer alleged that James Anderson offered and sold him security that was not registered. Further, the financial advisor made negligent misrepresentations in connection with the offer and sale of that security. This dispute was settled for $1.6 million.
- A second customer made similar allegations about “selling away” promissory notes.
James Anderson Red Flags & Your Rights as An Investor
Of course, James Anderson did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of James Anderson at Ameritas Investment Corp. on alert to review carefully the activity and performance of their accounts and question whether James Anderson has engaged in any stockbroker misconduct that may have caused them investment losses.
The large number of customer complaints at Ameritas Investment Corp. also raises questions about supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim to Recover Your Investment Losses At Ameritas Investment Corp.
If you have questions about Ameritas Investment Corp. and/or James Anderson and the management or performance of your accounts please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.