Sonn Law Group is investigating claims regarding Joseph Grund (CRD #2398298, Palm Beach Gardens, Florida). Grund has been registered with Ameriprise Financial Services, Inc., since October 2009. Clients of Grund recently filed a FINRA arbitration claim alleging that their accounts were mismanaged and that misrepresentations were made about the safety and security of two stock positions. They alleged that Grund recommended high risk investments on margin causing damages in the amount of approximately $20 million, according to Grund’s CRD.
In 2002, clients of Grund complained about inappropriate use of margin, and that margin interest in the amount of $83,183 allegedly was paid over the life of the account, according to Grund’s CRD. The complaint was withdrawn when the customers filed an arbitration claim against Grund’s firm.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Ameriprise may be liable for investment or other losses suffered by Grund’s customers.
If you were a client of Ameriprise or Grund and have suffered investment losses or financial irregularities, please contact Sonn Law Group to explore your legal options, Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our “contact form.”