Kim Dingee Involved in Pending Unsuitability Dispute
Kim Dingee (CRD #: 2898536), a broker formerly registered with Ameriprise Financial Services, is the subject of a pending unsuitability dispute, according to her BrokerCheck record, accessed on April 12, 2022.
According to the allegations filed on January 21, 2022, Kim Dingee recommended an unsuitable, risky, and complex alternative investment product, The investor is seeking $99,999.99.
FINRA Rule 2111
FINRA Rule 2111 requires financial advisors to have a “reasonable basis” to believe that a recommended transaction or investment strategy is suitable for their client. Investments may be unsuitable because they do not align with the investor’s financial goals, investing experience, age, or risk tolerance.
- Investments can be unsuitable because they are high risk and likely to lose money.
- Securities may also be unsuitable because they are illiquid, meaning that they are meant to be held for an extended period of time and may be costly to cash out.
- Securities must also be quantitatively suitable, meaning that brokers executed an excessive number of trades.
- These requirements apply to the overall investment strategy as well as the investments themselves.
A violation of FINRA Rule 2111 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”
Kim Dingee has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Besides Ameriprise Financial Services, Kim Dingee has also worked with IDS Life Insurance Company (CRD#:6321).
Kurta Law Can Help
If you suffered losses after working with Kim Dingee, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org 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.