ROBERT LEE WHITE is currently employed as a Broker and/or Investment Adviser at AMERIPRISE FINANCIAL SERVICES, INC. located at 1206 MILLENIUM PKWY, STE 2010, BRANDON, FL, 33511-3895.
ROBERT LEE WHITE has worked at AMERIPRISE FINANCIAL SERVICES, INC. since July 22, 2013
ROBERT LEE WHITE has 1 Disclosure Event(s).
Date: June 10, 2015 Category: Customer Dispute Allegations: Client deposited qualified funds into a non-qualified account. Client did not pay the taxes due. Faced with IRS taxes and penalties, client filed a complaint. Damage Amount Requested: $29,210.00 Settlement Amount: $22,000.00 Broker Comment: Client filed a claim upon IRS accountability that she pay the tax liability that she generated. Both RR and KSI believe the claim to be without merit. Client deposited qualified funds into her personal checking account, and then funded her investment purchase from that checking account. Client indicated at the time that the source of funds was 'savings when she was working' and in no way indicated that these funds had ever had a qualified status. Additionally, client received subsequent 1099 statements showing the tax disposition of these funds and made no mention of any tax status concerns until being required by the IRS to pay the tax liability. Further, client received monthly statements as well as notifications each time a trade was placed. KSI determined that the cost of arbitration could potentially generate a higher cost than settlement, and solely as a business decision chose to settle the claim with the client in the amount of $22,000. Regardless of the lack of merits of the case, pursuant to his employment contract with KSI, RR was required to contribute to the settlement.
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
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