Written by The White Law Group• April 2, 2024• 5:12 pm• Broker Investigations, FINRA SEC Sanctions

John Engler Sr. Barred by FINRA

John Engler Sr. Allegedly Misappropriated Customer’s Funds

According to a letter of acceptance on April1, 2024, the Financial Industry Regulatory Authority (FINRA) has barred former Ameriprise Financial advisor John Engler Sr. (CRD#: 835827) from associating with any FINRA member at any time.

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According to FINRA, the securities regulator, Engler was registered with Ameriprise Financial Services, LLC (CRD No. 6363) from October 2014 through June 7, 2023, when Ameriprise filed a Uniform Termination Notice for Securities Industry Registration (Form U5) terminating Engler’s registration.

On September 20, 2023, Ameriprise reportedly filed an amended Form U5 disclosing a customer lawsuit against the firm alleging that Engler made “unsuitable investments” and “misappropriated from her account.”

According to FINRA, Engler reportedly refused to provide information in its investigation, leading to the bar.

Engler’s broker profile indicates that he has three customer disputes filed against him. Allegations included unsuitable investments, among others.

FINRA Rule 2150 prohibits any member or person associated with a member from making improper use of a customer’s securities or funds. It also prohibits any guarantee against a customer’s loss or sharing in a customer’s account.

FINRA BrokerCheck Report – John Engler Sr.

According to a pending customer complaint filed in February of this year, one of Engler’s customers alleged “that she was recommended unsuitable investments and an aggressive margin investment strategy.” According to this FINRA BrokerCheck report, John Engler Sr. was affiliated with the following firms during his career in the securities industry:

10/24/2014 – 06/07/2023, AMERIPRISE FINANCIAL SERVICES, LLC (CRD#:6363), MARTINEZ, GA,
B, 07/01/2003 – 10/27/2014, WELLS FARGO ADVISORS, LLC (CRD#:19616), AUGUSTA, GA

The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.

You can use the tool to verify if a broker or brokerage firm is registered with FINRA, review their employment history, licensing status, and any regulatory actions or complaints filed against them.

Recovery of Investment Losses

When brokers abuse client accounts and conduct transactions that violate securities laws, 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. Our firm has handled over 700 FINRA arbitration claims on behalf of investors.

Free consultation

If you have suffered losses investing with John Engler Sr. and Ameriprise Financial, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.