Sean Refsnider (CRD #: 4762963), a previously registered broker and investment adviser, has been barred by the Financial Industry Regulatory Authority (FINRA), according to his BrokerCheck record, accessed on November 3, 2020. This came following his termination from Ameriprise Financial — read on to find out the details.
On April 28, 2020, a client alleged that Sean Refsnider took $42,000 from an elderly investor and used the funds to pay his mortgage and other personal expenses. Without customer authorization, FINRA alleges that Mr. Refsnider had his firm issue a debit card linked to the customer’s firm account and then used the debit card to make purchases and cash withdraws. FINRA further alleges that Sean Refsnider connected the customer’s firm account to her personal checking accounts by electronically signing her name to the required forms. This falls under the definition of elder financial abuse, which has become distressingly common in the securities industry. You can read a copy of the Decision and Order and Offer of Settlement here.
On August 20, 2013, Sean Refsnider was discharged from Ameriprise Financial following allegations that he had misappropriated funds.
Sean Refsnider has passed the Series 66 Uniform Combined State Law Examination, the Securities Industry Essentials Examination, and the General Securities Representative Examination, and the Series 7 General Securities Representative Examination.
During his 15 years in the securities industry, Sean Refsnider has worked at two firms:
- Ameriprise Financial Services, Inc. (CRD #: 6363)
- IDS Life Insurance Company (CRD #: 6321)
If Sean Refsnider was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys at Fitapelli Kurta. Call (877) 238-4175 or email email@example.com for a free case consultation with a securities attorney.