Orlando, FL | December 16, 2024 – Richard Stanislaus Routie (CRD# 4379905), formerly registered with Cetera Financial Specialists LLC and Ameriprise Financial Services, LLC, has been permanently barred from the securities industry by FINRA. The regulatory action stems from Routie’s refusal to appear for on-the-record testimony requested by FINRA in connection with an investigation into whether he borrowed money from customers. This post provides information about the regulatory disclosure and investor recovery options through FINRA arbitration.
BrokerCheck Snapshot
Name: Richard Stanislaus Routie
CRD #: 4379905
Firm: Not currently registered (formerly Cetera Financial Specialists LLC and Ameriprise Financial Services, LLC)
Location: Orlando, FL
Years in Industry: 24
Number of Disclosures: 1
Regulatory Action Against Richard Routie
On December 12, 2025, FINRA issued a final regulatory action against Richard Routie (Case # 2023079368801). Without admitting or denying the findings, Routie consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with a FINRA investigation into whether he borrowed money from customers.
The investigation involved activities that allegedly occurred while Routie was employed at Ameriprise Financial Services, LLC and Cetera Financial Specialists LLC. The case was resolved through an Acceptance, Waiver & Consent (AWC), and Routie received a permanent bar from the securities industry in all capacities, effective December 12, 2025.
Status: Final
Sanction: Permanent Bar (indefinite duration)
Pattern of Complaints / Risk Factors
While each case is unique, regulatory actions involving refusal to cooperate with investigations may indicate concerns related to broker misconduct and potential violations of industry rules. Investigations into whether brokers borrowed money from customers raise serious questions about boundary violations and potential conflicts of interest. Investors who experienced unauthorized transactions, unexplained account activity, or were asked to provide loans to their broker should carefully review account statements and seek legal guidance.
Can Investors Recover Losses?
Investors who experienced broker misconduct or violations of industry rules may be entitled to recover losses through FINRA arbitration. Patil Law, P.C. has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases. We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you.
About FINRA Arbitration
FINRA arbitration is a streamlined dispute resolution process for securities-related claims. It offers a faster, more cost-effective alternative to traditional court litigation. Most cases are resolved within 12-16 months. Claims generally must be filed within six years of the incident.
Related Brokers and Firms
For more information about complaints involving Cetera Financial Specialists and Ameriprise Financial Services, investors may wish to review disclosures for other brokers at these firms. Common allegations involving representatives at these firms include unsuitable investment recommendations, failure to supervise, unauthorized trading, and misrepresentations regarding investment risks.
Additional resources on recovering losses from broker misconduct and investment fraud are available through our practice area pages.
Frequently Asked Questions
What is the regulatory action against Richard Routie?
FINRA permanently barred Richard Routie from the securities industry on December 12, 2025, after he refused to appear for on-the-record testimony in connection with an investigation into whether he borrowed money from customers. The bar is effective in all capacities and has an indefinite duration.
Can investors recover losses involving Cetera Financial Specialists or Ameriprise Financial Services?
Yes, investors who suffered losses due to broker misconduct, unsuitable recommendations, or other violations of securities laws may be entitled to recover damages through FINRA arbitration. Most brokerage agreements require disputes to be resolved through this process rather than court litigation.
What is FINRA arbitration?
FINRA arbitration is a dispute resolution forum for securities-related claims between investors and brokerage firms or brokers. It is generally faster and less expensive than traditional litigation, with most cases resolved within 12-16 months. An arbitration panel hears evidence and makes a binding decision.
What does “unsuitable investment” mean?
An unsuitable investment is one that does not align with an investor’s financial situation, investment objectives, risk tolerance, or investment experience. Brokers have a duty to recommend only investments that are suitable for their clients based on these factors. Unsuitable recommendations are a common basis for investor claims.
How do I look up a broker on BrokerCheck?
Visit FINRA’s BrokerCheck website at brokercheck.finra.org and search by the broker’s name or CRD number. The report will show employment history, qualifications, and any customer complaints, regulatory actions, or other disclosures. This is a free service available to all investors.
What should I do if I suspect broker misconduct?
First, gather all documentation related to your account, including statements, confirmations, and communications with your broker. File a complaint with your brokerage firm and keep records of all correspondence. Consider consulting with a securities attorney to evaluate whether you have grounds for a FINRA arbitration claim. Time limits apply, so it is important to act promptly.
About Patil Law, P.C.
Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and securities fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.
With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.
Patil Law works on a contingency fee basis, meaning clients pay no attorney fees unless the firm successfully recovers money on their behalf. All consultations are free and confidential.
Contact Patil Law, P.C. for a Free Consultation
If you lost money investing with Richard Routie, Cetera Financial Specialists, or Ameriprise Financial Services, contact Patil Law, P.C. for a free, confidential consultation. Our experienced securities attorneys can review your case and explain your options for recovery. Call 800-950-6553 or email info@patillaw.com today. There is no obligation, and you pay no attorney fees unless we recover money for you.
Disclaimer
The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.
