Securian Financial Services Inc. Investment Attorney

We represent customers of financial advisors and broker-dealers in securities related disputes against their firms, such as Securian Financial Services Inc. (Securian Financial). Our services covers many forms of investment related misconduct including suitability, breach of fiduciary duty, failure to supervise, and various investment products and services. Our firm can analyze your brokerage accounts, determine the extent of the client’s financial losses, and understand the issues and remedies available.

Securian Financial Group, Inc. is a financial services corporation that is headquartered in St. Paul, Minnesota and founded in 1880. The company serves more than nine million clients in the United States and Puerto Rico and manages over $32 billion in assets. Securian Financial Group, Inc. is the parent company of Minnesota Life Insurance Company. Securian Financial Services is the broker-dealer affiliate of Securian Financial Group and provides comprehensive financial planning services and investment products through a nationwide network of its financial professionals.

Securian Financial is affiliated with, under common control, or otherwise performs business under the company names Ascend Financial Services, Inc. and MIMLIC Sales Corporation.

Securian Financial – By the Numbers:

  • CRD# 15296
  • SEC# 8-31955
  • 9 Regulatory Events
  • 2 Customer Complaints
  • Total Revenues: $291 million – 2012
  • Total Account Assets: $14.7 billion - 2012
  • Representatives: 1,053 - 2012

Securian Financial – In the News:

In re Securian Financial Services, Inc. – The Texas State Securities Board fined Securian Financial $50,000 concerning allegations that the firm failed to establish written supervisory procedures designed to supervise the activities of its agents. The state alleged that on 25 separate occasions from September 2004 through August 2007, a broker with the firm submitted unauthorized requests for the withdrawal of $473,000 in funds. The broker used the fax machine to allegedly send the false distribution forms for processing. The state alleged that the firm failed to have procedures designed to monitor the sending of the agent’s faxes.

Customer v. Securian Financial Services, Inc. –A FINRA securities arbitration panel ruled that Securian Financial Services must pay an investor $2.4 million for failed investments in real estate limited partnerships. The investor brought a securities fraud claim alleging that Securian Financial misrepresented the real estate investments as being safe and also that the firm failed to supervise its broker. The customer alleged that Securian’s advisor sold the real estate investments through a business outside the firm a practice known as “selling away.”

Our attorneys has successfully represented hundreds of investors in their broker disputes with their advisor firms. Our consultations are free and we welcome all inquiries.

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