SEAN MICHAEL REFSNIDER Barred by FINRA

SEAN MICHAEL REFSNIDER CRD#: 4762963, a former broker with Ameriprise Financial Services of Haddon Heights, New Jersey, has been barred by FINRA from acting as a broker or otherwise associating with a broker-dealer firm for allegedly converting more than $42,000 of an elderly client’s funds for his own use.
Without admitting or denying FINRA’s allegations, SEAN MICHAEL REFSNIDER consented to the sanction and to the entry of findings that he failed to provide FINRA with all of the documents and information that it requested in connection with its investigation into whether he converted approximately $42,000 in funds belonging to his elderly client.
FINRA’s findings stated that their investigation included reviewing allegations that SEAN MICHAEL REFSNIDER allegedly obtained a check from the client and used the funds for personal expenses and used the client's debit card to withdraw cash and make purchases for himself.
According to the FINRA complaint, allegedly SEAN MICHAEL REFSNIDER finances were in disarray, so he, according to the FINRA report, procured a check from the client and he then used the funds to pay his mortgage and other personal expenses. Without the client's authorization, Refsnider allegedly had the firm issue a debit card linked to the client's firm account and then used the debit card to make purchases and cash withdrawals.
FINRA also stated that SEAN MICHAEL REFSNIDER allegedly stopped paper or mail delivery of all documents associated with the client's firm account, including her account statements and trade confirmations. Refsnider allegedly arranged for these account documents to be sent to the client by e-delivery, even though, according to FINRA, he knew she would be unable to access and review her account documents, and FINRA alleged Refsnider linked the client's firm account to her personal checking accounts that she held away from the firm by electronically signing her name to the required forms outside of her presence. The client allegedly did not request any of these changes to her firm account and Refsnider made these changes without her knowledge or approval.
According to FINRA’s BrokerCheck, SEAN MICHAEL REFSNIDER, was registered in the securities industry for 15 years and has two disclosures on his FINRA CRD report.  One of the disclosures is the regulatory barring Refsnider from the industry and the other is an “Employment Separation After Allegations,” from Ameriprise Financial, discharging him following allegations, “REGISTERED REPRESENTATIVE WAS TERMINATED ON AUGUST 20, 2019 AFTER THE FIRM CONCLUDED CLIENT FUNDS WERE MISAPPROPRIATED.”
Sean Refsnider was registered with two firms, the most recent is listed below:
06/05/2012 - 09/03/2019 AMERIPRISE FINANCIAL SERVICES INC - HADDON HGTS, NJ
If you or an elderly family member have suffered financial losses due to the actions or recommendations of former Ameriprise broker, SEAN MICHAEL REFSNIDER, contact Soreide Law Group and speak to a lawyer at no cost regarding the possible recovery of your losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.