Chuck Waugh Allegedly Failed to Pay Proper Beneficiaries

Chuck Waugh (CRD #: 2130562), a broker registered with Ameriprise Financial Services, is involved in a pending dispute, according to his BrokerCheck record, accessed on January 3, 2023. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Disputes

On October 24, 2022, a claimant alleged that Chuck Waugh did not change the beneficiaries as requested by a deceased client before her death, and failed to pay the proper beneficiaries. The claimant seeks $300,000 in damages in this pending dispute.

In a dispute filed on July 19, 2018, multiple investors alleged that Chuck Waugh failed to disclose the risks and costs associated with an annuity and several investments purchased in September 2014. The clients sought $260,725 in damages but the dispute was denied by the firm.

However, investors should know that firms can deny disputes without an external review. Investors can still seek out FINRA arbitration following a denial and may be able to recover their losses.

FINRA Rule 2020

The omission of information related to investments violates FINRA Rule 2020, which prohibits the use of deception or manipulation to influence the purchase and sale of securities.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Chuck Waugh has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Chuck Waugh is a registered broker in 18 states and a registered investment adviser in Oklahoma and Texas.

He has also worked for IDS Life Insurance Company (CRD#:6321).

Kurta Law Can Help

If you worked with Chuck Waugh and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.