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Todd Bauman: Ameriprise Rep Gets $1.4 Million ETF Complaint

Todd Bauman (CRD# 2631144), a broker and investment adviser in Deerfield, Illinois, has received a pending customer complaint alleging damages that exceed $1 million. Financial Industry Regulatory Authority (FINRA) records show that Bauman is a registered representative of Ameriprise Financial Services, and that he has also received a customer complaint that reached settlement.

Todd Bauman’s BrokerCheck report describes a total of one settled customer complaint and one pending customer complaint against him, as well as a customer complaint that was denied by the firm. In reverse chronological order:

An investor complaint filed in March 2021 alleges that as a representative of Ameriprise Financial Services, Todd Bauman provided negligent investment advice and made unsuitable investment recommendations that resulted in losses exceeding $800,000. The allegations concern real estate securities and exchange-traded funds. The complaint remains pending, with the claimant seeking damages of $1,409,721.

An investor complaint filed in 2009 alleged that as a representative of Ameriprise Advisor Services, Todd Bauman recommended unsuitable stock investments and closed-end funds between August 2006 and June 2009. The customer sought unspecified damages in the complaint, which was ultimately denied by the firm.

Another investor complaint filed in 2009 alleged that as an Ameriprise Rep, he failed to diversify the customer’s investments and made unsuitable recommendations that included a variable annuity product. The complaint, from which he was dismissed, reached a settlement of $27,500.

Financial Industry Regulatory Authority records show that Todd Bauman has been a registered broker and investment adviser with Ameriprise Financial Services since 2009. His prior registrations include Ameriprise Advisor Services in Northbrook, Illinois, where he was registered as an investment adviser from 2003-2009; RSM McGladrey, Inc. in Buffalo Grove, Illinois, where he was registered as an investment adviser from March to July of 2003; and Ameriprise Advisor Services in Northbrook, Illinois, where he was registered as a broker from 1995 until 2009. He has passed six securities industry qualifying examinations: the Uniform Investment Adviser Law Examination, or Series 65; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Uniform Securities Agent State Law Examination, or Series 63; the Municipal Securities Representative Examination, or Series 52; and the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8. He currently holds 43 state securities registrations. (Information current as of June 6, 2021.)

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