(FINRA Case #2016049353501)
Geraldine Gordon (CRD #2499098, Lexington, Kentucky) – An AWC (Accept, Waiver & Consent) was issued in which Gordon was fined $7,500 and suspended from association with any FINRA member in all capacities for 10 business days.
Without admitting or denying the findings, Gordon consented to the sanctions and to the entry of findings that she recommended that her customer liquidate several diversified investments in her member firm brokerage and IRA accounts, and invest half of her liquid net worth in a single Master Limited Partnership focused on the energy sector.
The findings stated that the recommendation was unsuitable because the investment represented an excessive concentration of the customer’s net worth. The Master Limited Partnership prospectus described the investment as speculative.
Following Gordon’s recommendation, the customer invested a total of $334,000 in the Master Limited Partnership. Gordon’s recommendation that the customer invest half of her liquid net worth in this single sector focused Master Limited Partnership was not suitable for the customer in light of her financial condition and the excessively concentrated nature of the investment.
Gordon is currently employed with Ameriprise Financial Services, Inc. and has been there for 22 years.
The suspension was in effect from July 18, 2017, through July 31, 2017.
If you feel you have been misled or taken advantage by Geraldine Gordon or any Broker and wish to discuss legal action, please contact Darren Blum at 1-877-786-2552 (1-877-STOCK LAW), www.stockattorneys.com for a free consultation.