Erez Law is investigating claims regarding Sean Eric Mattson (CRD #4028781, South Lyon, Michigan). Mattson recently submitted an AWC in which he was suspended from association with any FINRA member in any capacity for one month. See FINRA Case #2014040837701. Mattson was associated with Ameriprise Financial Services, Inc., from July 2001 until his termination in April 2014. The Form U-5 filed by Ameriprise to terminate Mattson’s registration states that he “was discharged for violation of company policy related to accepting checks made payable to the RR from clients for financial planning services and disclosure of an outside business activity.”
FINRA found that Mattson failed to disclose his outside business activity of financial planning services to Ameriprise, and failed to receive the firm’s approval for the activity. FINRA also found that Mattson provided financial planning services to firm customers and received $6,150 in compensation for his services, directly from the customers. In entering into the AWC, Mattson neither admitted nor denied FINRA’s findings.
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 may be liable for investment or other losses suffered by Mattson’s customers.
If you were a client of Ameriprise or Mattson, and have suffered investment losses or financial irregularities, please contact Erez Law to explore your legal options. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 888-840-1571 or complete our “contact form.”