FINRA BrokerCheck contains allegations of sales practice violations by securities broker Harpreet Singh Mangat [CRD#: 4442530, Princeton, New Jersey]. Evidently, clients disputed the sales practices of the securities broker, who worked for Ameriprise Financial Services. However, Mangat denies the allegations. Read on to learn more.
Ameriprise Financial Services Client Accuses Harpreet Mangat Of Breach Of Fiduciary Duty
Evidently, on April 27, 2014, an Ameriprise Financial Services client filed FINRA Arbitration Claim #: 14-01299. Specifically, the client alleged failure to supervise, misrepresentations, breach of fiduciary duty, omissions, and negligence. Because of this, the client allegedly sustained damages. Therefore, on December 20, 2017, a FINRA Arbitration Panel issued an Award ordering Ameriprise Financial Services to pay the client $200,000 in compensatory damages.
Ameriprise Financial Services Client Accuses Mangat Of Misrepresentations
Also, a client of Ameriprise Financial Services contested Harpreet Mangat's sales practices, according to a complaint dated January 3, 2020. Notably, accusations against the securities broker include misrepresentations. Allegedly, the variable life insurance policies that Mangat sold or recommended resulted in damages. Therefore, the client requested compensatory relief from Ameriprise Financial Services or Mangat in the amount of $192,000 in this matter. However, the firm denied this dispute on January 31, 2020.
Damages Resulting From Ameriprise Financial Services Securities Broker Harpreet Mangat?
Have you experienced damages by investing with Harpreet Mangat? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered money for hundreds of investors in all 50 states, represents clients on a contingency fee basis and advances all costs. Please keep in mind that Mangat and the brokerage firms Mangat has associated with deny any and all allegations of sales practice violations.
