Advisor Alert: Our Attorneys Are Investigating Michael Fred Zanders For Investment Fraud
Did You Lose Money Because of Mike Zanders?
Filed: January 24, 2024
Michael Zanders (also known as Mike Zanders) currently has one (1) pending customer complaint. Overall, he has been the subject of one (1) regulatory event and six (6) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Michael Fred Zanders.
Who Is Michael Fred Zanders of Ameriprise Financial Services, LLC?
- Advisor Name: Michael Fred Zanders
- Aliases: Mike Zanders
- CRD: 475794
- Location: Leawood, Kansas
- Current Employer: Ameriprise Financial Services, LLC
- Previous Firms: NFP Securities, Inc. and FBD Investment Services, Inc.
- Number of Known Customer Complaints: 6
- Number of Known Regulatory Events: 1
- Can Michael Zanders Be Sued: Yes, in Private Arbitration
- Can Michael Zanders’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $349,203
- Highest Settlement: $130,000
If you have suffered investment losses by Michael Zanders, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a churning lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Mike Zanders For Broker Misconduct
As of this publication date, Michael Zanders has been the subject of 6 customer disputes and 1 regulatory event. Let’s review them below.
In August 2023, a FINRA arbitration was filed against or in reference to Michael Zanders by a customer of Ameriprise Financial Services, LLC alleging that Mr. Zanders recommended unsuitable investment of a variable annuity. Per the customer, he/she lost over $90,400 because of Mr. Zanders’s actions. As of this publication date, this claim remains pending.
In July 2023, a complaint was filed against or in reference to Michael Zanders by a customer of Ameriprise Financial Services, LLC alleging that Mr. Zanders purchased an unsuitable variable annuity in 2021. Per the customer, he/she lost over $13,961.58 because of Mr. Zanders’s actions.
In January 2004, NASD initiated a regulatory action against or in reference to Michael Zanders for failing to adequately and properly supervise and failed to detect and take adequate steps to prevent a firm representative from recommending that numerous public customers purchase mutual fund Class B shares without a reasonable basis to believe the recommendations were suitable for each customer.
In February 2005, a complaint was filed against or in reference to Michael Zanders by a customer of NFP Securities, Inc. and FBD Investment Services, Inc. alleging improper supervision. Per the customer, he/she lost over $84,527 because of Mr. Zanders’s actions. On September 22, 2005, Mr. Zanders settled the claim for $12,500, and some or all of this amount may have been paid by Mr. Zanders’s employer and/or insurance carrier.
In November 2002, a NASD arbitration was filed against or in reference to Michael Zanders by a customer of FBD Investment Services, Inc. alleging fraud, misrepresentation, negligence, breach of contract, unsuitable transactions, failure to supervise, and breach of fiduciary duty. Per the customer, he/she lost over $349,203 because of Mr. Zanders’s actions. On June 17, 2004, Mr. Zanders settled the claim for $55,000, and some or all of this amount may have been paid by Mr. Zanders’s employer and/or insurance carrier.
In December 2001, a NASD arbitration was filed against or in reference to Michael Zanders by a customer of NFP Securities, Inc. and FBD Investment Services, Inc. alleging breach of contract, negligence, fraud, breach of fiduciary duty, inadequate supervision, and excessive and unsuitable trading. Per the customer, he/she lost over $145,667.91 because of Mr. Zanders’s actions. On March 17, 2004, Mr. Zanders settled the claim for $130,000, and some or all of this amount may have been paid by Mr. Zanders’s employer and/or insurance carrier.
In August 1993, a complaint was filed against or in reference to Michael Zanders by a customer of Prudential Bache Securities, Inc. alleging execution of unauthorized futures – trades. Per the customer, he/she lost over $137,000 because of Mr. Zanders’s actions. On July 26, 1994, Mr. Zanders settled the claim for $50,000, and some or all of this amount may have been paid by Mr. Zanders’s employer and/or insurance carrier.
How To File A Claim Against Mike Zanders of Ameriprise Financial Services, LLC (previously with NFP Securities, Inc. and FBD Investment Services, Inc.) To Get Your Money Back
If you have questions about Michael Zanders, Ameriprise Financial Services, LLC, NFP Securities, Inc., FBD Investment Services, Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.