FINRA Barred Jim Jinkook Seol for selling away from Ameriprise

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Furgison Law Group will evaluate cases involving misconduct by Jim Jinkook Seol of Ameriprise Financial Services.

Matthew Martin Howley

The securities fraud lawyers at Furgison Law Group will provide free case evaluations for all claims against Ameriprise Financial Services, Inc., related to alleged misconduct by Jim Jinkook Seol (CRD#: 2876279). An NAC decision became final, in which Seol was barred indefinitely from association with any member firm, as he participated in private securities transactions and engaged in outside business activities without providing prior written notice to, or receiving written approval from, his member firm. The findings stated that Seol formed a corporation through which he solicited investments from foreign customers in a limited partnership that he also formed to serve as a qualifying investment facility. In addition, through the corporation, Seol entered into a consulting agreement with an entity to assist it with the identification and solicitation of qualified foreign nationals to develop and operate yogurt shops in the United States.

Allegations of Misconduct

The CRD Report of Jim Seol includes the disclosure of numerous other customer complaints in Irvine, California:

1. Customer alleged that Seol misrepresented the annuity contract to her;

2. Customer alleged on 9/24/2003 that he recommended unsuitable investments allocations;

3. Customer alleged on 4/09/2004 that her investments were unsuitable;

4. Customer alleged on 7/9/2004 that in 2001 transferred all funds in excess OF $1 Million in six trusts to AEFA. Claimant alleged AEFA and its advisors recommended high risk Mutual Funds. Claimant alleges AEFA sold her a life insurance policy she did not need. The case was settled for $500,000.00.

5. Customer alleged on 6/7/2013 the REIT & variable annuities purchased from 2003 to 2006 were inappropriate;

These types of disclosures and customer complaints are serious red flags that evidence a pattern of unsuitable investment recommendations in order to generate commissions and income for themselves, at the expense of their clients.

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered loses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Jim Jinkook Seol at Ameriprise Financial Services, please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.