Paul Gainer Terminated by Ameriprise Financial Services

Paul Gainer (CRD #: 2347145) has been fired by Ameriprise Financial Services. This disclosure appears on his BrokerCheck record, accessed on March 8, 2024. Keep reading if you have questions regarding his alleged conduct. 

Employment Separation After Allegations 

On January 15, 2023, Ameriprise Financial Services fired Paul Gainer following allegations that he had failed to comply with the terms of the firm’s heightened supervision plan. 

Failure to Supervise 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. Firms may implement a heightened supervision plan for brokers if they suspect noncompliance with firm rules or securities regulations. 

Tax Lien 

On September 17, 2019, Paul Gainer became the subject of a tax lien for $32,303.57. 

Investor Allegations

On February 4, 2019, investors alleged that Paul Gainer sold them variable annuity without explaining the product. The investors sought $200,000 but the dispute was denied. 

Variable Annuities

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying securities. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Background Information 

Paul Gainer 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 

Paul Gainer has registered with the following firms: Ameriprise Financial Services (CRD #: 6363) and IDS Life Insurance Company (CRD #: 6321). 

Kurta Law Can Help 

If you have worked with Paul Gainer and have concerns about your investments, do not hesitate to contact us 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 that 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. Do not let securities fraud go unchecked. Start your recovery process today.