Misconduct Alleged Against Ameriprise Brokers Robert Caldwell And Stephen Tadlock

Ameriprise Financial Services brokers Robert Alan Caldwell (CRD#: 1995182, Naples, Florida) and Stephen Christopher Tadlock (CRD#: 5746664, Houston, Texas) have reported troubling allegations on Financial Industry Regulatory Authority (FINRA) BrokerCheck about their activities in the securities industry. Those two brokers engaged in the type of misconduct which may have harmed investors. Here is a summary of their disclosures:

Ameriprise’s Robert Caldwell Discloses Customer Disputes About Omissions

 
Evidently, Robert Caldwell has been a general securities broker for Ameriprise Financial Services since October 9, 1989. Notably, Robert Caldwell disclosed a pair of customer disputes that involve his activities. First, an Ameriprise Financial Services customer brought an investment-related complaint on December 5, 2016 about Robert Caldwell’s sales practices. Primarily, the customer claimed that Robert Caldwell failed to advise the customer about the payout from a variable annuity – products which typically provide income payments guaranteed by an insurance company for an annuitant’s lifetime. Allegedly, Robert Caldwell failed to let the customer know about a reduction in the rider’s future value. Eventually, Ameriprise Financial Services opted to settled the customer’s claim by paying the customer $59,726.00. However, the firm did not admit to being liable.
Also, Robert Caldwell disclosed that a customer of his past employer, IDS Life, filed a complaint about him when he worked there. According to the customer, Robert Caldwell sold the customer a policy that caused the customer to pay more than the customer agreed to pay. Supposedly, the customer was made to believe that the premium payments would be less expensive. Because of this, IDS Life ultimately settled the customer’s claim by providing the customer $60,000.00.

Ameriprise Terminates Broker Stephen Tadlock About Violating Compliance Policy

Stephen Tadlock, who is also known as Chris Hadlock, was an Ameriprise Financial Services securities broker from May 3, 2013 until July 30, 2017. Apparently, Stephen Tadlock did not leave the firm on good terms. Specifically, Ameriprise discharged Stephen Tadlock for violating Ameriprise’s compliance policies concerning his transactions with customers. Namely, Stephen Tadlock failed to preserve records about the suitability of customers who purchased products. Not only that, but Stephen Tadlock allegedly failed to document investment transactions involving the firm’s customers. FINRA has commonly imposed fines and suspension in situations where brokers and firms fail to evidence the suitability of customer transactions. Stephen Tadlock became a Park Avenue Securities LLC broker on October 19, 2018.

If you experienced losses from Robert Caldwell and Stephen Tadlock or other Ameriprise Financial Services brokers who may have misrepresented investments, sold you unsuitable securities, or misused your investable assets, contact Soreide Law Group at (888) 760-6552 and speak with our qualified counsel about a possible recovery of your losses. Soreide Law Group represents clients nationwide and only charges a fee upon recovery of losses.