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Mark Bierdeman Subject of Regulatory Action by State of Minnesota

Mark Bierdeman (CRD #: 2809412), a broker registered with Ameriprise Financial Services, allegedly made an unsuitable recommendation to a client, according to his BrokerCheck record, accessed on February 8, 2023. Read on to learn more about his alleged conduct as a broker.

Minnesota Regulatory Action

On November 10, 2022, the State of Minnesota Department of Commerce alleged that Mark Bierdeman recommended an unsuitable life insurance policy replacement to a client.

The Minnesota Department of Commerce issued an order against Mark Bierdeman and fined him $2,500.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment or a life insurance policy replacement fits their investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their risk tolerance, tax status, and overall financial situation.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

Background Information

Mark Bierdeman 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

Mark Bierdeman is a registered broker in 13 states and a registered investment adviser in North Dakota and Texas.

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

Kurta Law Can Help

If you worked with Mark Bierdeman 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. 

 

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