FINRA Disciplines New Orleans Financial Adviser Bradley Drude

By June 3, 2015 September 20th, 2017 News

Bradley Keith Drude of New Orleans submitted an Offer of Settlement to FINRA relating to allegations that he served as an undisclosed executor and beneficiary for a client’s estate.

FINRA began investigating Ameriprise Financial investment advisor Drude in May 2015 relating to findings that he did not disclose that he had been named the executor and a beneficiary in a client’s will, which also granted him power of attorney. FINRA found that Drude had typed up a new will for the customer, who was 91 at the time, and named himself executor and primary beneficiary. The customer’s estate was valued at approximately $3 million.

After the customer’s death, the customer’s secondary beneficiaries and close friends challenged the revised will, arguing that the new will was the result of Drude’s undue influence over his client.

Drude was assessed a deferred fine of $25,000 and his suspension is in effect from June 15, 2015 through December 14, 2015.

 

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