DID PHILIP ANTHONY RIPOSO CAUSE YOU INVESTMENT LOSSES?
Philip Riposo Formerly With United Planners’ Financial Services of America A Limited Partner Has 11 Customer Complaints For Alleged Broker Misconduct
Who is Philip Riposo formerly with United Planners’ Financial Services of America A Limited Partner?
Philip Riposo (CRD #400056) who was formerly registered with United Planners’ Financial Services of America and located in Cave Creek, Arizona, is a subject of one of our many securities industry sales practice abuse investigations. Prior to United Planners’ Financial Services of America, Philip Riposo was associated with other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems. Philip Riposo has had his own regulatory problems. In 2022 without admitting or denying the findings, he consented to the sanction and to the entry of findings that he failed to appear for on the record testimony requested by FINRA in connection with an investigation into the circumstances giving the rise to the termination from his member firm. According to the allegations, he was terminated after admitting to creating a providing client with fictitious account statements as well as receiving a depositing check from clients made out to a company, he was doing business. The sanction was a permanent bar for many further associations with any member firm in any capacity indefinitely.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Philip Riposo Customer Complaints
Philip Riposo has been the subject of 11 customer complaints that we know about seeking to recover investment losses. Three of the customer complaints are settled by United Planners Financial Services of America and Merrill Lynch, Pierce Fenner and Smith in favor of the investors. Another 3 customer complaints were denied by his former employers in the investors took no further action. There are currently 5 FINRA arbitration proceedings that are still pending against United Planners Financial Services of America for the advisor’s alleged misconduct.
Allegations Against Philip Riposo
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Breach of regulatory requirements, breach of fiduciary duty, negligence, and gross negligence.
- Negligence, fraud, violations of RICO statute, and breach of fiduciary duty.
- Misappropriation of client funds.
- Conversion of client funds.
- Failure to instruct customer on tax consequences.
- Unauthorized trading.
Philip Riposo Red Flags & Your Rights As An Investor
Of course, Philip Riposo 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 Philip Riposo at United Planners’ Financial Services of America on alert to review carefully the activity and performance of their accounts and question whether Philip Riposo has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at United Planners’ Financial Services of America also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At United Planners’ Financial Services of America A Limited Partner Due To Philip Riposo
If you have questions about United Planners’ Financial Services of America and/or Philip Riposo 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.
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