Ameriprise’s Mandy Woo: Investor Alleges Misconduct

Irvine, California financial advisor Mandy Woo (CRD# 4179009) recently received an investor complaint alleging her conduct resulted in damages of more than $200,000. Financial Industry Regulatory Authority records show that Ms. Woo is a broker and an investment advisor with Ameriprise Financial Services.

Ms. Woo’s BrokerCheck report discloses one investor complaint. Filed in September 2022, it alleges that as a representative of Ameriprise Financial Services, she failed to follow the customer’s instructions “to rebalance his portfolio into more conservative investments in February 2022 to protect his portfolio in the event of a market downturn.” The pending complaint alleges damages of $230,000. 

For reference, FINRA Rule 2010 requires FINRA-associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Various types of unethical conduct—such as the failure to follow a client’s instructions—may fall under the umbrella of Rule 2010 violations, provided the conduct in question occurs “in the conduct of [the member’s] business.” FINRA Rule 2111, meanwhile, requires brokers to “have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile.” More information on these rules is available via FINRA.

According to the Financial Industry Regulatory Authority, Mandy Woo holds 22 years of securities industry experience. Based in Irvine, California, she has been a broker and an investment advisor with Ameriprise Financial Services since 2001. Her past registrations include IDS Life Insurance Company (Minneapolis, Minnesota; 2001-2006) and Pruco Securities Corporation (Newark, New Jersey; 2000-2001). Her credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. She holds 23 state licenses. (Information current as of October 26, 2022.)

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