Luis Rivera: Did Ameriprise Advisor Misappropriate Funds?

Greensboro financial advisor Luis Rivera (CRD# 6378152) is involved in multiple investor complaints alleging he misappropriated customer funds. Records maintained by the Financial Industry Regulatory Authority indicate that he is currently registered as a broker and an investment advisor with Ameriprise Financial Services, having previously been registered with Wells Fargo Clearing Services.

Mr. Rivera’s BrokerCheck report discloses two investor complaints. The most recent, filed in April 2023, alleges that as a representative of Ameriprise Financial Services, he misappropriated $28,600 from the customer’s brokerage account between February 2022 and January 2023. The pending complaint alleges damages of $28,600.

A second investor complaint, also filed in April 2023, similarly alleges that as a representative of Ameriprise Financial Services, he “unlawfully misappropriated funds” from the customer’s third-party checking account without the customer’s authorization. The pending complaint alleges damages of $11,144.

According to the Financial Industry Regulatory Authority, Luis Rivera holds eight years of securities industry experience. Based in Greensboro, North Carolina, he has been a broker and an investment advisor with Ameriprise Financial Services since 2021. He was previously registered with Wells Fargo Clearing Services in High Point, North Carolina from 2014 until 2021. His credentials include the passage of five securities industry qualifying exams: the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Colorado, Florida, Georgia, Maryland, Michigan, Missouri, New York, North Carolina, Ohio, Oregon, South Carolina, Virginia, and West Virginia. (Information current as of May 27, 2023.)

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