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Guy Colella: $420K Trading Complaint Against Ameriprise Advisor
A recent investor complaint against Boca Raton financial advisor Guy Colella (CRD# 1646164) alleges that he engaged in excessive trading and other forms of misconduct. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Ameriprise Financial Services, having previously been registered with Raymond James & Associates.
Mr. Colella’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in March 2023, alleges that as a representative of Ameriprise Financial Services, he breached his fiduciary duty, recommended unsuitable investments in annuities and mutual funds, engaged in excessive trading, and “inappropriately cod[ed] accounts with a risk tolerance and investment objective inappropriate for [the customer’s] age.” The pending complaint alleges damages of $420,000.
An earlier investor complaint, filed in 2001, alleged that as a representative of Janney Montgomery Scott, he executed unauthorized trades in over-the-counter equity products. In 2002 the complaint reached a settlement of $14,000.
A third investor complaint, filed in 1998, alleged that he executed transactions with the sole purpose of generating commissions. The complaint alleged damages of $25,000 and was closed with no action taken.
According to the Financial Industry Regulatory Authority, Guy Colella holds 36 years of securities industry experience. Based in Boca Raton, Florida, he has been a broker and an investment advisor with Ameriprise Financial Services since 2011. His registration history includes Raymond James & Associates (West Palm Beach, Florida; 2006-2011), Janney Montgomery Scott (North Palm Beach, Florida; 1998-2006), Prudential Securities (New York, New York; 1995-1998), AG Edwards & Sons (St. Louis, Missouri; 1990-1995), JT Moran & Company (1987-1990), and RLR Securities Group (1987). His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Alabama, Colorado, Florida, Georgia, Indiana, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, and Wisconsin. (Information current as of April 1, 2023.)
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