What You Need to Know
- The rep allegedly pretended to be a client when speaking to an annuity company twice while he was with Raymond James.
- The rep currently serves as an advisor and broker for Ameriprise.
- He consented to a $5,000 fine and 15-day suspension by FINRA for his actions.
The Financial Industry Regulatory Authority has fined and suspended an Ameriprise advisor who allegedly impersonated a client when speaking by phone to an annuity company twice while he was a rep for Raymond James early last year.
David Lynn Van Geffen signed a FINRA letter of acceptance, waiver and consent on Aug. 9 in which he consented to a $5,000 fine and 15-day suspension from associating with any FINRA member in any capacity. FINRA signed the letter Monday.
Ameriprise declined to comment Tuesday. Raymond James and Benjamin Winograd, an attorney representing Geffen for the Westminster, Colorado law firm HLBS Law, did not immediately respond to requests for comment. Winograd also serves as director of enforcement and associate attorney at AdvisorLaw, according to his LinkedIn profile.
Van Geffen entered the securities industry in 1988 when he became associated with FINRA members Mony Securities, where he remained a broker until 1993, and The Mutual Life Insurance Co. of New York, where he remained a broker until 1990, according to his report on FINRA’s BrokerCheck website. He went on to be a broker for Edward Jones from 1993 through 1996.
He joined Raymond James Financial Services as a general securities representative and broker in 1996 and also became a registered advisor for the firm in 2006.