MELVIN CECIL GORDON

MELVIN CECIL GORDON is currently employed as a Broker and/or Investment Adviser at AMERIPRISE FINANCIAL SERVICES, INC. located at 350 E Las Olas Blvd, Ste 1700, Ft Lauderdale, FL, 33301.

MELVIN CECIL GORDON has worked at AMERIPRISE FINANCIAL SERVICES, INC. since February 08, 2010

Disclosure History

MELVIN CECIL GORDON has 5 Disclosure Event(s).

Date: January 07, 2016
Category: Customer Dispute
Allegations: The clients alleged their portfolio allocation is too risky and that they were not given advice to sell their Fannie Mae bonds prior to the clients selling them on December 28, 2015.
Damage Amount Requested: $41,497.16

Date: November 14, 2008
Category: Customer Dispute
Allegations: TIME FRAME: JANUARY 2007 THRU NOVEMBER 14, 2008CLIENT'S COUNSEL ALLEGES THAT THE AUCTION RATE SECURITIES WERE REPRESENTED AS HAVING THE SAFETY OF CD'S AND A READY MARKET FOR LIQUIDITY. COUNSEL FURTHER ALLEGES THAT THESE SECURITIES WERE HIGHLY UNSUITABLE. DAMAGES ESTIMATED TO BE IN EXCESS OF $5,000.
Damage Amount Requested: $5,000.00
Settlement Amount: $475,000.00
Broker Comment: THE COMPLAINT AROSE BECAUSE OF UNPRECEDENTED MARKET EVENTS THAT CAUSED THE BREAKDOWN OF LIQUIDITY IN THE MARKET FOR AUCTION RATE SECURITIES. THE FIRM, UBS, AGREED TO REPURCHASE THE ARS SECURITIES AT ISSUE AT PAR VALUE FROM THE CLIENT. THIS WAS NOT A SETTLEMENT OF A DISPUTE BETWEEN THE CLIENT AND THE REPRESENTATIVE AND WAS NOT BASED ON THE MERITS OF THE CLIENT'S SPECIFIC CONCERNS OR ANY FINDING OF FAULT OR WRONGDOING BY THE NAMED REPRESENTATIVE. THE NAMED REPRESENTATIVE WAS NOT A PARTY TO, AND DID NOT AGREE TO OR PARTICIPATE IN, THE REPURCHASE AGREEMENT BETWEEN THE FIRM AND THE CLIENT. THE NAMED REPRESENTATIVE DID NOT MAKE ANY PAYMENTS TO THE CLIENT AND THE NAMED REPRESENTATIVE WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE SETTLEMENT AMOUNT. THE LISTED "SETTLEMENT AMOUNT" REPRESENTS ONLY THE GROSS INITIAL PAR VALUE OF THE ARS POSITION AND DOES NOT TAKE INTO ACCOUNT THE ACTUAL VALUE OF THE ARS POSITION AT THE TIME THE FIRM RECEIVED IT BACK FROM THE CLIENT IN CONNECTION WITH THE SETTLEMENT. THIS MATTER IS BEING REPORTED AS A SETTLEMENT PURSUANT TO THE REQUIREMENTS OF FINRA REGULATORY NOTICE 09-12.

Date: June 17, 1992
Category: Customer Dispute
Allegations: THE CUSTOMER ALLEGED MISREPRESENTATION ANDUNSUITABILITY OF POLARIS AIRCRAFT FUND WITH @ FACE VALUE OF$50,000.
Damage Amount Requested: $50,000.00
Settlement Amount: $29,000.00
Broker Comment: CASE WAS SETTLED FOR $29,000 PRUDENTIAL TO PAYSETTLEMENT. CLAIM DISMISSED AGAINST GORDON INDIVIDUALLY.Not Provided

Date: October 18, 1991
Category: Customer Dispute
Allegations: Not Provided
Settlement Amount: $72,000.00
Broker Comment: CLAIMANTS SIGNED GENERAL RELEASE. DWR TO PAYSETTLEMENT OF $72,000.00. CLAIMANTS TO DISMISS CLAIM AGAINSTGORDON INDIVIDUALLY.Not Provided

Date: July 05, 1990
Category: Customer Dispute
Allegations: CUSTOMERS ALLEGE THAT I CONVINCED THEM TOLIQUIDATE (FOR A FEE OF $1,129) THEIR HOLDINGS IN US GOVERNMENTSECURITIES TRUST AND INVEST THE PROCEEDS IN LIMITEDPARTNERSHIPS WITHOUT ADEQUATELY DISCLOSING THEIR RISKS ANDILLIQUIDITY. THEY ALSO CLAIM THESE WERE UNSUITABLE INVESTMENTSFOR AN ELDERLY COUPLES RETIREMENT FUNDS AND THAT I RECOMMENDEDTHESE INVESTMENTS TO GENERATE COMMISSIONS. THEY SEEKRESCISSION AND COMP. DAMAGES EXCEEDING $5,000.
Settlement Amount: $11,000.00
Broker Comment: IT WAS DECIDED BY DEAN WITTER THAT DUE TOESCALATING LEGAL FEES AND NOT BECAUSE OF ANY LEGAL WRONGDOINGSTHAT THE MATTER SHOULD BE SETTLED. SETTLEMENT WAS MADE IN THEAMOUNT OF $11,000.00. PAYMENT WAS MADE SOLELY BY DEAN WITTER.THERE WAS NO PAYMENT OF ANY KIND FROM ME. IN NO WAY IS THESETTLEMENT TO BE CONSTRUED AS AN ADMISSION OF LIABILITY.ALLEGATIONS ARE NOT CORRECT AS CLIENTS CAME TO MEUNSOLICITED WITH SUGGESTIONS ON WHAT THEY WOULD LIKE TO DO.ALL ALLEGATIONS AS STATED ARE FALSE AND MISLEADING. INADDITION THE DECISION TO BUY THESE INVESTMENTS WAS MADE BY THECUSTOMERS. THEY HAD A FEAR OF LOSING MORE MONEY IN THEGOVERNMENT TRUST WHICH WAS PURCHASED ELSEWHERE. IT WAS NEVERMY INTENTION TO DO ANYTHING OTHER THAN WHAT THEY WANTED.

More Information

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BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.

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