PHILIP ANTHONY RIPOSO Barred By FINRA

On April 18, 2022, the Financial Industry Regulatory Authority (FINRA) barred:
PHILIP ANTHONY RIPOSO (CRD#: 400056), formerly with  UNITED PLANNERS' FINANCIAL SERVICES OF AMERICA A LIMITED PARTNER of Cave Creek, Arizona.
According to the FINRA report, without admitting or denying FINRA’s findings, PHILIP ANTHONY RIPOSO consented to the sanction and to the entry of findings that he failed to appear for on-the-record testimony requested by FINRA in connection with an investigation into the circumstances giving rise to his termination from his member firm.
FINRA’s findings stated that PHILIP ANTHONY RIPOSO’s firm filed a Uniform Termination Notice of Securities Industry Registration (Form U5) on his behalf, disclosing that it had terminated his association with the firm after he was allegedly found and admitted to creating and providing clients with fictitious account statements, as well as receiving and depositing checks from clients made out to Riposo’s DBA name.
According to FINRA’s BrokerCheck, PHILIP ANTHONY RIPOSO, has been in the securities industry for 47 years and has 8 disclosures on his FINRA CRD report.  Two of the disclosures are, “Employment Separation after Allegations,” with the latest from, UNITED PLANNERS' FINANCIAL SERVICES OF AMERICA A LIMITED PARTNER, dated March 3,2022, discharging Riposo following allegations of, “United Planners prohibits Financial Professionals from creating and distributing fictitious statements to clients. Mr. Riposo was found and admitted to creating and providing clients with fictitious statements from Zurich Kemper Investments. Additionally, United Planners does not allow Financial Professionals to receive checks from clients made payable to their Doing-Business-As (DBA) name. Mr. Riposo was found and admitted to receiving and depositing checks from clients made out to Riposo Asset Management (his DBA) that were used for personal expenses.”
PHILIP ANTHONY RIPOSO had been listed with 14 firms, the most recent is listed below:
12/07/2015 - 03/08/2022 UNITED PLANNERS' FINANCIAL SERVICES OF AMERICA A LIMITED PARTNER -                  CAVE CREEK, AZ
If you or a loved one have experienced investment losses due to the actions or recommendations of the former broker previously with , UNITED PLANNERS' FINANCIAL SERVICES OF AMERICA A LIMITED PARTNER of Cave Creek, Arizona, PHILIP ANTHONY RIPOSO, contact Soreide Law Group and speak at no cost to an experienced securities lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis and represent clients nationwide before FINRA.