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Seth Gansman Allegedly Mismanaged a Client’s Retirement Funds

Seth Gansman (CRD #: 6003662), a broker registered with Ameriprise Financial Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on September 20, 2024. Keep reading if you have questions. 

Investor Allegations

On July 31, 2024, investors alleged that Seth Gansman mismanaged their retirement funds. They further alleged that he improperly recommended a margin loan and a line of credit. 

The investor is seeking $500,000. 

What is Margin Investing? 

Investing on margin is when an investor opens a margin account and borrows money from a brokerage firm in order to purchase more securities. Using borrowed money is called “leverage” and it increases the risk that the investor will lose money. Margin accounts may come with interest charges, significant broker fees, and the risk of a margin call. 

Margin calls happen when the broker needs more money in the account in order to cover the minimum margin requirement. If the investor does not deposit money in the margin account, the broker may liquidate securities in the investor’s account in order to cover the minimum. 

Utilizing margin is often unsuitable and investors should be made aware of the risks before purchasing securities on margin. 

Background Information 

Seth Gansman has passed the following exams: 

  • Series 66 – Uniform Combined State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination

He is a registered broker in 16 states and is a registered investment adviser in California, Pennsylvania, and Texas. 

During his 12 years of experience, Seth Gansman has registered with two firms: Ameriprise Financial Services (CRD #: 6363) and Morgan Stanley (CRD #: 149777). 

Kurta Law Can Help 

If you worked with Seth Gansman and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.