Rudolf Molnar, Broker with Ameriprise Financial, Named in Customer Dispute Alleging Unsuitable Recommendations

The claimants are seeking over $150k in damages for Molnar’s alleged misconduct.

Rudolf “Rudy” Molnar (CRD: 3211892) is registered as a broker and financial adviser with Ameriprise Financial Services where he has been employed since 2009. Molnar was previously registered as a broker with Securities America from 2009 until 2011.

Molnar has six disclosures on his BrokerCheck report. 

December 2020 Customer Dispute

• Status: Pending
• Allegations: Claimants allege that they were recommended unsuitable, high-commission, high-risk, and speculative alternative investment, FSKR.
• Damage Amount Requested: $164,000.00

May 2013 Regulatory Judgment

• Status: Final
• Initiated By: Commonwealth of Virginia
• Allegations: The Commonwealth of Virginia reviewed my insurance registration based upon the AWC I entered related to FINRA file number 2010022064201 and a State of California administrative action resulting from the same FINRA matter.
• Resolution: One-year voluntary surrender of insurance license.
• Sanctions: One-year voluntary surrender of insurance license.

July 2012 Financial Event

• Status: Final
• Type: Compromise
• Disposition: Satisfied/Released

July 2012 Financial Event

• Status: Final
• Type: Compromise
• Disposition: Satisfied/Released

May 2012 Regulatory Judgment

• Status: Final
• Initiated By: Illinois
• Allegations: Disqualification caused by FINRA order entered March 14, 2012 in disciplinary proceeding no. 2010022064201
• Resolution: Stipulation and Consent
• Sanctions: Undertaking
• Sanctions: Order of Withdrawal for two (2) years.

March 2012 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: FINRA Rule 2010: From June 16, 2009 through August 6, 2009, Molnar impersonated four customers in order to expedite the transfer of their accounts from his former broker-dealer employer to his new broker-dealer employer. In each instance, he placed a telephone call to his former broker-dealer, identified himself as the customer, and proceeded to impersonate the customer, sometimes using personal information such as the customer’s birth date or social security number. Although the customers had authorized the transfer of their accounts, the customers did not authorize the impersonations.
• Resolution: Acceptance, Waiver & Consent (AWC)
• Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
• Amount: $5,000.00
• Sanctions: Suspension
• Registration Capacities Affected: Any Capacity
• Duration: One month
• Start Date: 4/16/2012
• End Date: 5/15/2012
• Regulator Statement: Without admitting or denying the findings, Molnar consented to the described sanctions and to the entry of findings; therefore, he is fined $5,000 and suspended from association with any FINRA member firm in any capacity for one month. The suspension is in effect from April 16, 2012, throughout May 15, 2012. Fine paid in full April 9, 2012.
• Broker Comment: After my departure from a prior firm, multiple clients requested my assistance in transferring their funds to my current firm. Acting on my clients’ behalf and only after they authorized the transfers and submitted transfer forms, I assisted them in the transfer of their assets. During the entire transfer process, the only concerns ever voiced by my clients were related to how long it was taking my prior firm to transfer their assets to my current firm. There were significant delays related to the transfers and my clients were gravely concerned about the financial viability of my prior firm and the safety of their investments. As such, there was significant pressure to transfer the funds from my prior firm. 

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Rudy Molnar. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.