Matt Shaughnessy: $175K UIT Complaint Against Ameriprise Advisor

Henderson, Nevada financial advisor Matt Shaughnessy (CRD# 2457058) has received multiple investor complaints alleging his conduct resulted in losses. 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 UBS Financial Services.

Mr. Shaughnessy’s BrokerCheck report discloses two investor complaints. The most recent, filed in March 2023, alleges that as a representative of Ameriprise Financial Services, he misrepresented the provisions associated with an unsuitable unit investment trust, and purchased the UIT without authorization. The pending complaint alleges damages of $175,000.

An earlier investor complaint, filed in 2009, alleged that as a representative of Morgan Stanley DW, he failed to supervise the use of margin in a customer’s brokerage account. The complaint reached a settlement of $681,817.62.

According to the Financial Industry Regulatory Authority, Matt Shaughnessy holds 28 years of securities industry experience. Based in Henderson, Nevada, he has been registered as a broker and an investment adviser with Ameriprise Financial Services since 2018. His past registrations include UBS Financial Services (Henderson, Nevada; 2008-2018), Morgan Stanley & Company (Henderson, Nevada; 2007-2008), Morgan Stanley DW (Henderson, Nevada; 2003-2007), Salomon Smith Barney (New York, New York; 1998-2003), and Piper Jaffray (Minneapolis, Minnesota; 1994-1998). His credentials include the passage of seven 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 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 currently holds 24 state licenses. (Information current as of April 17, 2023.)

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