Broker Philip Riposo, United Planners, Barred after Allegations
According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred financial advisor Philip Anthony Riposo (CRD#: 400056) after he reportedly failed to provide information in an investigation.
On March 8, 2022, Riposo’s member firm, United Planners , disclosed that it had terminated Riposo on March 3, 2022, after he allegedly admitted to creating and providing clients with fictitious account statements, as well as receiving and depositing checks from clients made out to Riposo Asset Management, Riposo’s Doing-Business-As (DBA) name, according to a Letter of Acceptance Waiver and Consent.
According to his FINRA BrokerCheck report, Riposo has five customer complaints and two employment separations. He was reportedly affiliated with the following firms, among others, during his 47-year career in the securities industry:
12/07/2015 – 03/08/2022, UNITED PLANNERS’ FINANCIAL SERVICES OF AMERICA A LIMITED PARTNER (CRD#:20804), CAVE CREEK, AZ,
03/04/2008 – 12/09/2015, CADARET, GRANT & CO., INC. (CRD#:10641), New Bedford, MA
01/10/2000 – 03/12/2008, LPL FINANCIAL CORPORATION (CRD#:6413), E. FALMOUTH, MA
Potential Lawsuits to Recover Financial Losses
The White Law Group is investigating potential securities fraud lawsuits regarding the liability that Riposo’s employers may have for failure to properly supervise him.
When brokers and registered investment advisors violate securities laws, such as churning accounts or making unsuitable investment recommendations, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. We represent investors in all 50 states including Arizona. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you are concerned about your investments with Philip Riposo, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.
Tags: broker Philip Riposo barred, Philip Riposo, Philip Riposo arizona, Philip Riposo complaints, Philip Riposo disputes, Philip Riposo financial advisor, Philip Riposo investigation, Philip Riposo investor disputes, Philip Riposo lawsuit, Philip Riposo securities fraud attorney, Philip Riposo United Planners, Riposo Asset Management Last modified: December 27, 2022