Garden City, NY | January 14, 2026
Vincent Thomas Ferrara Jr (CRD# 1791902), a financial advisor currently registered with Ameriprise Financial Services, LLC in Garden City, New York, has multiple disclosure events on his FINRA BrokerCheck record spanning more than two decades. According to FINRA records, Ferrara’s disclosures include three customer disputes and one dismissed criminal charge. Most notably, a client filed a complaint in September 2025 alleging misappropriation of funds seeking $2,000,000 in damages while Ferrara was employed at Merrill Lynch. The complaint was denied in November 2025. Additionally, Ferrara faced earlier complaints involving unsuitable investments in unit investment trusts and variable annuities.
BrokerCheck Snapshot
Name: Vincent Thomas Ferrara Jr
CRD #: 1791902
Firm: Ameriprise Financial Services, LLC
Location: Garden City, NY
Years in Industry: 38
Number of Disclosures: 4 (3 customer disputes, 1 criminal charge)
Recent $2 Million Misappropriation Allegation – Denied
Customer Dispute Filed September 2025
On September 19, 2025, a client filed a written complaint against Ferrara while he was employed at Merrill Lynch, alleging misappropriation of funds. The complaint sought $2,000,000 in damages.
Disclosure Details:
- Date Received: September 19, 2025
- Employer When Activities Occurred: Merrill Lynch, Pierce, Fenner & Smith Incorporated
- Allegation: Misappropriation of funds
- Alleged Damages: $2,000,000.00
- Product Type: No product specified
- Status: Denied
- Status Date: November 14, 2025
- Settlement Amount: $0
Ferrara’s Response: “I dispute this allegation. No funds were ever misappropriated, and I acted appropriately and within all firm and regulatory requirements. The customer’s claim is unsupported by facts and was denied by the firm after review.”
The complaint was filed just seven months after Ferrara left Merrill Lynch to join Ameriprise Financial in February 2024, suggesting the alleged conduct may have occurred during his final period at Merrill Lynch, where he worked for nearly 16 years.
What is Misappropriation of Funds?
Misappropriation of funds is one of the most serious allegations that can be made against a financial professional. It involves the unauthorized use of client assets for purposes other than those intended by the client. This can include:
- Theft or conversion of client funds for personal use
- Unauthorized withdrawals from client accounts
- Forged signatures on withdrawal requests or account documents
- Fraudulent transfers between accounts without client knowledge or consent
- Commingling client funds with the broker’s personal accounts
Even when such allegations are denied or dismissed, they raise important questions about account oversight, internal controls, and broker misconduct.
Earlier Customer Complaints
Complaint #2: Unit Investment Trust Disclosure Failure (2001)
In 2001, while Ferrara was employed at Citicorp Investment Services, a client filed a complaint alleging inadequate disclosure regarding unit investment trusts.
Disclosure Details:
- Date Received: April 23, 2001
- Employer: Citicorp Investment Services
- Allegation: “At no time was [she] ever informed that a ‘call’ order on these funds was even a remote possibility”
- Product Type: Unit Investment Trust
- Alleged Damages: $31,209.50
- Status: Settled
- Status Date: May 24, 2013
- Settlement Amount: Unknown (settled during FINRA mediation)
Firm Statement: “This matter is believed to have been settled during a FINRA mediation for an unknown sum.”
This complaint highlights a common problem with unit investment trusts (UITs): investors may not fully understand the risks, including the possibility that the trust could be “called” or terminated early, potentially resulting in unexpected tax consequences or investment losses.
Complaint #3: Variable Annuity Misrepresentation (2000)
In March 2000, also while at Citicorp Investment Services, a client complained about alleged misrepresentations regarding a variable annuity.
Disclosure Details:
- Date Received: March 16, 2000
- Employer: Citicorp Investment Services
- Allegation: Client alleges Ferrara never informed her of surrender charges on the annuity if cashed in early, and told her there would be no tax consequences despite the money coming from a surrendered life insurance contract
- Product Type: Variable Annuity
- Alleged Damages: $6,000.00
- Status: Denied
- Status Date: April 26, 2000
Variable annuities are complex financial products that often come with:
- High surrender charges lasting 7-10 years or more
- Significant tax implications when money is withdrawn
- Multiple layers of fees that can erode returns
- Suitability concerns for elderly or conservative investors
Criminal Disclosure: Dismissed Drug Charge (2011)
Ferrara’s BrokerCheck record includes one criminal disclosure that was ultimately dismissed.
Criminal Charge Details:
- Charge Date: December 31, 2010
- Court: Nassau District Court, Hempstead, NY
- Docket Number: CR-033546-10NA
- Charge: Criminal Possession of a Controlled Substance in the 5th Degree (Cocaine) – Felony
- Disposition: Dismissed
- Disposition Date: April 14, 2011
- Sentence/Penalty: N/A
While this charge was dismissed and did not result in a conviction, FINRA requires brokers to disclose all formal criminal charges, even those that are later dismissed.
Pattern of Complaints / Risk Factors
While Ferrara has disputed or had complaints denied, the presence of multiple customer complaints over two decades—including allegations of misappropriation, inadequate disclosure, and misrepresentation—may indicate concerns related to communication practices, disclosure obligations, and unsuitable investment recommendations. Investors should carefully review account statements, fee disclosures, and transaction confirmations, and seek legal guidance if similar issues occurred in their accounts.
Ferrara’s Career Background
Vincent Thomas Ferrara Jr has worked in the securities industry since 1988, accumulating 38 years of experience. His career has included positions at several major Wall Street firms.
Current Position (February 2024 – Present):
- Ameriprise Financial Services, LLC – Garden City, NY
- Registered Representative and Investment Adviser Representative
- Also maintains a branch office in Massapequa, NY
Previous Positions:
- Merrill Lynch, Pierce, Fenner & Smith (June 2008 – February 2024) – 16 years as Financial Advisor in Garden City, NY
- Bank of America, N.A. (December 2009 – February 2024) – Financial Advisor (concurrent with Merrill Lynch, as Bank of America owned Merrill Lynch during this period)
- Citigroup Global Markets Inc. (May 2007 – June 2008) – Plainview, NY
- Citicorp Investment Services (July 1992 – May 2007) – 15 years in Massapequa Park, NY
- Pruco Securities Corporation / Prudential (May 1989 – March 1992)
- J.T. Moran & Co., Inc. (May 1988 – April 1989)
- Sherwood Capital, Inc. (February 1988 – May 1988)
Securities Licenses:
- Series 7 (General Securities Representative) – passed February 1988
- Series 24 (General Securities Principal) – passed March 1997
- Series 63 (Uniform Securities Agent State Law) – passed April 1988
- Series 66 (Uniform Combined State Law) – passed September 2005
- SIE (Securities Industry Essentials) – passed October 2018
Ferrara currently holds securities licenses in 9 U.S. states and territories, including New York, New Jersey, Connecticut, Florida, and Texas.
The Move from Merrill Lynch to Ameriprise
Ferrara’s transition from Merrill Lynch to Ameriprise Financial in February 2024 occurred after spending nearly 16 years at Merrill Lynch. The timing is notable because the $2,000,000 misappropriation complaint was filed seven months later in September 2025, alleging conduct that occurred while Ferrara was at Merrill Lynch.
When brokers change firms, their clients’ accounts typically transfer with them, and the new firm conducts due diligence on the advisor’s background. Questions that may arise include:
- What due diligence did Ameriprise conduct before hiring Ferrara?
- Were clients properly informed about the transition and any changes to their account terms?
- What supervision and oversight processes are in place at the new firm?
Can Investors Recover Losses?
Investors who experienced misappropriation of funds, inadequate disclosures regarding investment products, misrepresentation about fees or tax consequences, or unsuitable investment recommendations 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
Vincent Thomas Ferrara Jr is currently registered with Ameriprise Financial Advisors, one of the nation’s largest financial services firms. He previously spent 16 years at Merrill Lynch, where the most recent complaint alleging misappropriation was filed.
For more information about investment fraud and broker misconduct, visit our pages on misappropriation of funds, variable annuity fraud, unsuitable investments, and failure to supervise.
Frequently Asked Questions
What is the complaint against Vincent Thomas Ferrara Jr?
Vincent Thomas Ferrara Jr has three customer dispute disclosures on his FINRA BrokerCheck record. The most recent complaint, filed in September 2025, alleged misappropriation of funds seeking $2,000,000 in damages and was denied in November 2025. Earlier complaints from 2001 and 2000 involved allegations of inadequate disclosure regarding unit investment trusts and misrepresentation about variable annuity fees and tax consequences. One complaint settled for an unknown amount; the others were denied.
Can investors recover losses involving Ameriprise Financial?
Yes. Investors who suffered losses due to broker misconduct, unsuitable recommendations, misappropriation, or fraud at Ameriprise Financial or any other firm may file claims through FINRA arbitration. Investors have the right to seek compensation for losses caused by violations of securities laws and industry regulations, regardless of whether earlier complaints were settled or denied.
What is FINRA arbitration?
FINRA arbitration is a dispute resolution forum designed specifically for securities-related claims between investors and brokerage firms or brokers. It is typically faster and less expensive than traditional court litigation. An arbitration panel—usually composed of one to three arbitrators—hears evidence and renders a binding decision. Most securities customer agreements contain mandatory arbitration clauses requiring disputes to be resolved through FINRA arbitration rather than court.
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 time horizon. Brokers have a legal obligation to recommend only investments that are suitable for their clients based on information gathered during the account opening process and throughout the ongoing relationship. Recommending unsuitable investments—such as complex products like variable annuities or unit investment trusts to clients who don’t understand them—violates FINRA rules and securities regulations.
How do I look up a broker on BrokerCheck?
Visit FINRA’s BrokerCheck website at brokercheck.finra.org. You can search by the broker’s name or CRD number. BrokerCheck provides detailed information about a broker’s employment history, professional qualifications, licenses, and any disclosure events such as customer complaints, regulatory actions, criminal charges, or terminations. All investors should check a broker’s BrokerCheck record before investing and periodically review it during the relationship.
What should I do if I suspect broker misconduct?
First, document everything. Gather account statements, trade confirmations, emails, recorded phone calls, and any written communications with your broker. Review your account activity for unauthorized trades, excessive fees, unsuitable investments, or unexplained withdrawals. Then file a complaint with FINRA and your state securities regulator. Finally, consult with a securities attorney who specializes in investor protection to discuss whether you have grounds for a FINRA arbitration claim. Time limits apply, so 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 Today
If you invested with Vincent Thomas Ferrara Jr at Ameriprise Financial, Merrill Lynch, or any other firm and experienced unauthorized transactions, misrepresentation about investment products, inadequate disclosures, or other concerns about how your investments were handled, we encourage you to contact us for a free consultation.
Call: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com
There is no cost and no obligation. We’re here to help you understand your rights and options.
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.