NEW BEDFORD, MASSACHUSETTS and CAVE CREEK, ARIZONA Have you lost money with Philip Riposo, a financial advisor formerly with United Planners Financial Services in New Bedford, Massachusetts? Riposo was recently discharged by United Planners Financial Services, regarding allegations that he created fake statements from Zurich Kemper Investments and provided them to clients.

Riposo also allegedly had clients write checks out to his own firm, Riposo Asset Management, which is not allowed by his former brokerage firm. According to FINRA BrokerCheck, Philip Riposo allegedly used those checks for personal expenses.

Philip Riposo worked at offices in New Bedford, Massachusetts, but he also was assigned to an office in Cave Creek, Arizona. Riposo had been with United Planners Financial Services from December 2015 to March 2022.

Generally, financial advisors or stockbrokers should not accept checks that are written to the advisor or their direct business. The checks generally should be written out to the licensed brokerage firm that they work for, or to the issuing company (such as a mutual fund, annuity, etc.). Accepting checks from client and sending fictitious statements is often a sign of fraud.

Israels & Neuman is an investment fraud and securities arbitration law firm. We represent investors all over the country, including investors in both Massachusetts and Arizona. We have previously had cases against United Planners Financial Services.

VIEW BROKERCHECK REPORT HERE

If you lost money with Philip Riposo, Riposo Asset Management, or United Planners Financial Services, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.