As a result of his conduct, Ameriprise issued a Letter of Reprimand to Holdway and Finraissued a Letter of Caution. Upon finding that Holdway had violated its Rules of Conduct, the CFP Board issued a Letter of Admonition to him as well.
The CFP Board issued a Letter of Admonition to Albertine based on actions dating back to 2010. At that time, Albertine and her husband reportedly suffered a decline in the value of their home, as well as business setbacks leading to difficulties making tax payments to the IRS.
The couple reached an agreement with the IRS to pay their outstanding taxes on a month-to-month basis. In 2014, Albertine and her husband liquidated assets to make the tax payments. By 2016, however, the couple still owed the IRS a total of $163,502.86, which the commission found was a violation of the board’s Rules of Conduct.
Albertine appealed the commission’s December 2017 decision, but the board’s Appeals Committee affirmed it.
Higgins received a Letter of Admonition based on an order issued by the CFP Board’s Disciplinary and Ethics Commission dating back to actions taken by Higgins in 2016. At that time, Higgins’ employer, ProEquities Inc., terminated his employment for having clients sign blank switch letters and acknowledgement forms. Higgins entered into an AWC Letter with Finra, in which he consented to the findings that he maintained customer-signed, but otherwise blank forms for approximately 130 clients, which he submitted to the firm upon the execution of relevant transactions.
The CFP Board found that Higgins’ actions violated its Rules of Conduct, and issued a Letter of Admonition to him.