An Ameriprise advisor has been fined and temporarily suspended by FINRA, and the brokerage was censured and fined as well after an investigation detailed how the advisor altered documents of a client he faced in arbitration hearings, and the firm knowingly kept quiet about the changes.
The investigation by FINRA stems out of a 2008 arbitration case between Minneapolis-based Ameriprise advisor David B. Tysk and a former client, Guenther Roth, who complained that Tysk had advised and bought more than $2 million in unsuitable annuities with his fixed-income account.
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