Our firm is investigating Ameriprise Financial Services, LLC financial advisor and registered representative Corey Ryan Schepper (CRD# 4413872) of Keego Harbor, Michigan for potential investment-related misconduct.
Financial Advisor’s Career History
According to his FINRA BrokerCheck report, Corey Ryan Schepper has been registered with Ameriprise Financial Services, LLC since September 20, 2021, working out of the firm’s Keego Harbor, Michigan branch location.
His prior securities industry registrations include: First Allied Advisory Services, Inc. (IA, 10/2013–11/2020); First Allied Securities, Inc. (Broker, 10/2013–11/2020); SII Investments, Inc. (IA, 12/2010–10/2013; Broker, 10/2007–10/2013); Commonwealth Financial Network (Broker, 10/2001–10/2007); and American Express Financial Advisors Inc. and IDS Life Insurance Company (Broker, 08/2001–10/2001).
Corey Ryan Schepper Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck reflects one disclosed customer dispute currently reported as pending.
Pending FINRA Arbitration Alleging Unsuitable Real Estate Security Recommendations (Docket No. 21-02974)
A customer dispute is disclosed as a pending FINRA arbitration filed on December 6, 2021 in FINRA – Detroit, Michigan (Docket/Case # 21-02974). The claimant alleges that the financial advisor recommended unsuitable recommendations involving a Real Estate Security, with alleged damages of $50,000. The complaint was reported as received on December 16, 2021, and the matter is listed as pending.
The disclosure states the employing firm when the activities allegedly occurred was First Allied Securities, Inc.
Disclosures (for context):
- Customer Dispute (FINRA arbitration) — Allegation: unsuitable investment recommendation(s) involving a real estate security; Forum: FINRA – Detroit, MI; Docket: 21-02974; Filing date: 12/06/2021; Complaint received: 12/16/2021; Alleged damages: $50,000; Disposition: Pending.
To obtain a copy of Corey Ryan Schepper’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) generally requires a broker to have a reasonable basis to believe a recommendation is suitable for the customer, based on the customer’s investment profile (such as objectives, risk tolerance, liquidity needs, time horizon, and other relevant factors). In a dispute alleging unsuitable recommendations—like the pending arbitration involving an alleged real estate security recommendation—Rule 2111 is often central because the claim turns on whether the advisor evaluated the customer’s profile and whether the recommendation reasonably fit that profile given the product’s risks and characteristics.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) broadly requires brokers to observe high standards of commercial honor and just and equitable principles of trade. When an investor alleges they were steered into an unsuitable investment, Rule 2010 may be implicated if the recommendation process involved conduct that was unfair, misleading, or inconsistent with the obligation to deal honestly with customers—particularly where a product’s risks, liquidity constraints, or conflicts were not adequately addressed.
FINRA Rule 3110 (Supervision) requires member firms to establish and maintain a supervisory system designed to achieve compliance with applicable securities laws and FINRA rules. In cases involving allegedly unsuitable recommendations, supervision can matter because firms are expected to have procedures to review recommendations, monitor concentrations in higher-risk products, and escalate red flags. Even when the allegation is directed at an individual advisor, investors may also evaluate whether the firm’s supervisory controls were reasonably designed and reasonably implemented to prevent or detect the conduct alleged in the complaint.
The Law Offices of Robert Wayne Pearce, P.A. is a nationally recognized securities law firm representing investors in FINRA arbitration and securities fraud cases on a contingency fee basis. Robert Wayne Pearce, the founding attorney, has more than 45 years of experience recovering millions for victims of broker fraud, negligence, and unsuitable recommendations. He previously defended major brokerage firms and now uses that insight to protect investors nationwide. To discuss your case directly with Mr. Pearce, call (800) 732-2889 or email pearce@rwpearce.com for a free consultation.