Rick Tuberosa Fired from Ameriprise Financial Following 15 Investor Disputes

Rick Tuberosa (CRD #: 1277676) has been fired by Ameriprise Financial Services, according to his BrokerCheck record, accessed on June 24, 2022. He also has 14 investor disputes on his record – concerned investors should keep reading.

On April 8, 2022, Ameriprise Financial Services fired Rick Tuberosa following allegations that he violated company policy and failed to comply with a disciplinary action.

Investor Dispute

According to investor allegations filed on January 16, 2018, Rick Tuberosa mishandled investor assets by utilizing an unsuitable options trading strategy. This dispute settled for $200,000.

Options trading is risky and complex and is therefore not suitable for most investors according to FINRA Rule 2111.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investors’ profiles include information concerning their financial goals, other investments, and their age.

Some common violations of this rule include recommendations of high-risk investments – like options – which are more likely to lose money.

Background Information

Rick Tuberosa 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 31 Futures Managed Funds Examination
• Series 3 National Commodity Futures Examination
• Series 7 General Securities Representative Examination
• Series 6 Investment Company Products/ Variable Contracts Representative Examination
• Series 24 General Securities Principal Examination
• Series 4 Registered Options Principal Examination

Rick Tuberosa has passed the following exams:

• Ameriprise Financial Services (CRD #: 6363)
• Ameriprise Advisor Services (CRD #: 5979)
• Wachovia Securities (CRD #: 19616)
• Palm State Equities (CRD #: 24271)
• American Wallstreet Securities (CRD #: 21256)
• Shearson Lehman Hutton (CRD #: 7506)
• F. Hutton & Company (CRD #: 235)
• Raymond James & Associates (CRD #: 705)
• First Investors Corporation (CRD #: 305)

Kurta Law Can Help

If you worked with Rick Tuberosa 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.