Investors might have sustained losses due to securities broker Philip Anthony Riposo [CRD: 400056, Cave Creek, Arizona], and FINRA has sanctioned him, according to disclosures on the Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Riposo was previously registered with United Planners' Financial Services of America A Limited Partner from December 7, 2015, to March 8, 2022. Keep reading to learn more about Riposo’s disclosures.
Specifically, on January 17, 2024, a United Planners' Financial Services of America client filed FINRA Arbitration No. 24-00118 about Philip Riposo. Supposedly, Riposo breached a fiduciary duty and was negligent. Because of this, the client allegedly sustained damages. Consequently, the client requested compensation from United Planners' Financial Services of America or Riposo. Evidently, this arbitration is pending a resolution.
Particularly, a client of United Planners' Financial Services of America, LPL Financial Corporation, and Cadaret Grant Co. Inc. contested Philip Riposo’s sales practices by filing FINRA Arbitration No. 23-02641 on October 10, 2023. Allegedly, Riposo converted client funds to his own personal benefit. Because of this, the client seeks compensatory relief from those firms or Riposo in this ongoing matter.
Specifically, on April 18, 2022, FINRA issued Case No. 23-02487 sanctioning Philip Riposo for infractions. Riposo was permanently barred from acting in all capacities in the securities industry. FINRA alleged that Riposo failed to appear for testimony requested by FINRA in connection with an investigation into the circumstances leading to his termination from his employer. He was allegedly terminated after being discovered and admitting to providing clients with fictitious account statements, as well as depositing checks from clients made out to Riposo’s DBA name.
Also, on October 5, 2023, an investor filed FINRA Arbitration No. 23-02641 about Philip Riposo. Mainly, the client alleged that Riposo misappropriated client funds and gave the client fictitious account statements from 2000 to 2022. Therefore, the client requested compensation from United Planners' Financial Services of America, LPL Financial Corporation, or Riposo. Evidently, this arbitration is pending a resolution.
Additionally, on October 10, 2023, an investor filed FINRA Arbitration No. 23-02641 about Philip Riposo. Evidently, the client alleged that Riposo violated Racketeer Influenced and Corrupt Organizations Act, was negligent, and breached his fiduciary duty. Because of this, the client allegedly sustained damages. Consequently, the client requested compensation from United Planners' Financial Services of America, LPL Financial Corporation, or Riposo. Evidently, this arbitration is pending a resolution.
Evidently, a United Planners' Financial Services of America client filed FINRA Arbitration No. 23-02487 about Philip Riposo. Supposedly, Riposo was negligent, breached a fiduciary duty, and breached a contract. Because of this, the client requested compensation in this ongoing matter.
Did you experience losses due to Philip Riposo? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Riposo and brokerage firms he worked for deny accusations of sales practice violations.
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