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David Van Geffen Subject of FINRA Fine and Suspension for Alleged Customer Impersonation

Oct 25, 2021 AWC

David Van Geffen (CRD #: 1890754), an investment adviser and broker with Ameriprise Financial Services, LLC, is the subject of a FINRA suspension, according to his BrokerCheck record, accessed on October 20, 2021. This suspension stems from allegations that he impersonated a customer on telephone calls to an annuity company

Keep reading if you have concerns about David Van Geffen's conduct as a broker.

David Van Geffen Employment Termination

On March 6, 2021, Raymond James Financial Services fired David Van Geffen following allegations that he impersonated a client in an attempt to facilitate a service-related request with an annuity company.

FINRA Letter of Acceptance, Waiver, and Consent Agreement

According to an Acceptance, Waiver, and Consent agreement dated August 23, 2021, David Van Geffen consented to the findings that he impersonated a customer on telephone calls to an annuity company. 

FINRA indicated that the matter originated from a Form U5 that Raymond James Financial Services filed.

According to FINRA, in January 2020, a customer requested that David Van Geffen effectuate an increase in the customer’s annuity income benefit. In January and February 2020, David Van Geffen allegedly impersonated the customer during two telephone calls with the annuity company and was successful in obtaining the increase. Although the customer requested that David Van Geffen effectuate the increase in the income benefit, he did not give permission to impersonate him.

FINRA Rule 2010

FINRA Rule 2010 requires members to “observe high standards of commercial honor and just and equitable principles of trade.” Impersonating a customer is inconsistent with this standard and constitutes a violation of Rule 2010.

You can read a copy of the AWC here.

FINRA Suspension and Fine

As part of the terms of the AWC, David Van Geffen consented to a 15-day suspension and a $5,000 fine. 

David Van Geffen Background Information

David Van Geffen has passed the following exams:

  • Series 66 - Uniform Combined State Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 51 - Municipal Fund Securities Principal Examination
  • Series 24 - General Securities Principal Examination

David Van Geffen is a registered broker in 5 states and is a registered Investment Adviser in Texas and Louisiana. 

Besides Ameriprise Financial Services, David Van Geffen has worked with the following firms:

  • Aegis Capital CORP. (CRD#:15007)
  • Raymond James Financial Services Advisors, INC (CRD#:149018)
  • Raymond James Financial ServiceS (CRD#:6694)
  • Edward D. Jones & Co., L.P. (CRD#:250)
  • The Mutual Life Insurance Company Of New York (CRD#:2873)
  • Mony Securities Corp. (CRD#:4386)

Kurta Law Can Help

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

For nearly 20 years, Kurta Law has advocated for investors 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.