Vincent Leonard Petrangelo, Broker with Ameriprise Financial Services, Named in Customer Dispute Alleging Failure to Supervise

INVESTORS: Ameriprise Financial Services broker Vincent Leonard Petrangelo was named in a customer dispute alleging failure to supervise.

Vincent Leonard Petrangelo (CRD#: 2866580) is registered as a broker and investment adviser with Ameriprise Financial Services, where he has been employed since 1993. Petrangelo does not have any other securities experience.

Petrangelo has eight disclosures on his BrokerCheck report. Three customer disputes filed against Petrangelo were denied and one was withdrawn.

January 2021 Customer Dispute

Status: Pending

Allegations: Claimants allege Branch Manager failed to adequately supervise Claimants’ FAs. Alleged Activity dates: 2/13/2009 to present.

July 2018 Regulatory Judgment

Status: Final

Initiated By: Massachusetts Securities Division

Allegations: On or about April 20, 2018, Ameriprise filed on FINRA’s CRD an Application seeking registration of Petrangelo as a BD Agent in Massachusetts (the “Application”). Petrangelo has 14 disclosure incidents on the CRD which include 7 creditor Compromises that were written off, 2 judgment liens that were satisfied and 5 customer complaints alleging breach of fiduciary duty, churning, unauthorized trading and suitability issues. 2.As a result of the above-stated disclosure incidents, and pursuant to the Undertakings, the Division is placing conditions on Petrangelo’s registration as a BD Agent of Ameriprise in Massachusetts.

Resolution: Conditional Registration

Sanctions: Undertaking

Sanctions: Ameriprise must supervise Petrangelo on a heightened basis. Conditions on his registration shall be effective for 3 years from the date of entry of the Order

November 2013 Financial Event

Status: Final

Type: Receivership

Disposition: Satisfied/Released

December 2011 Customer Dispute

Status: Award / Judgment

Allegations: Client alleges breach of fiduciary duty of investment broker, churning/excessive, unauthorized trades and unsuitable investments. Activity dates from 9/2011 to 4/2012.

Damage Amount Requested: $47,444.29

Damages Granted: $39,802.69

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