United Planners Financial Services is facing growing legal and regulatory challenges after multiple findings of advisor misconduct, including arbitration awards and regulatory penalties totaling over $1 million. For clients of the firm, these events raise serious concerns about how investments were managed and whether firm oversight failed to protect their interests.
If you’ve experienced unexpected losses while working with United Planners or were a client of former advisor Philip Riposo, don’t hesitate to reach out to Meyer Wilson Werning today. Our attorneys are experienced in securities fraud cases involving brokerage firms and will help to guide you through the process with a free consultation to determine whether your losses are the result of actionable misconduct.
Advisor Misconduct at United Planners and Arbitration Awards

United Planners’ (CRD#: 20804) legal troubles stem largely from misconduct by former financial advisor Philip Riposo (CRD#: 400056), who was terminated in 2022. For years, Riposo allegedly misrepresented investments and issued fraudulent account statements, misleading clients about the state of their portfolios.
Key developments include:
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An arbitration panel awarded $346,000 to clients Susan Cushing and Curtis Miller for negligence and failure to supervise
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The firm agreed to a $1.06 million settlement to compensate clients who relied on misleading investment statements
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United Planners also paid $168,000 in fines to resolve regulatory actions brought by the Massachusetts Securities Division

Riposo’s misconduct went undetected for decades, despite a long history in the industry. This raises serious questions about the firm’s supervisory controls and the systems it had in place to protect clients from harm.
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$350 Million for Our Clients Nationwide.
Financial Penalties and Regulatory Scrutiny
The legal and financial repercussions for United Planners highlight broader compliance issues that may affect other investors connected to the firm. The penalties and settlements are only part of the picture—the regulatory attention now focused on United Planners may signal deeper concerns about how it has managed advisor conduct across its network.

Recent findings show:
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Failures in oversight that allowed Riposo to allegedly issue false investment statements and misrepresent annuity products
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Regulatory inquiries that have prompted increased scrutiny into the firm’s supervisory systems
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Three major settlements and fines within the span of one year, raising red flags for potential systemic issues
What Affected Investors Should Know
If you worked with United Planners and believe your advisor may have misrepresented your investments—or if your account performance doesn’t match what you were told—it’s important to take action. Legal representation can be critical when seeking compensation for losses tied to advisor misconduct.

Here are steps that can help protect your rights:
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Document your experience: Save any account statements, emails, or written communications that could support your claim
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Check your advisor’s history using FINRA’s BrokerCheck or the SEC’s public database
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Consider arbitration as a pathway to pursue recovery from the firm for misconduct-related losses
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Speak with a securities attorney to evaluate whether your case qualifies for legal action

It’s not the investor’s job to detect fraud—that responsibility lies with United Planners and its supervisors. When oversight fails, affected clients have a right to hold the firm accountable.
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What’s Next for United Planners and Their Clients
The mounting legal challenges and regulatory penalties against United Planners are already affecting its reputation and operations. With increased scrutiny from state securities regulators and ongoing legal claims, the firm may need to overhaul its compliance structure—and investors should be aware that additional developments could impact their own financial relationship with the company.
If you or someone you know has been a victim of losses through United Planners, contact our team at Meyer Wilson Werning today. Our team covers cases in Massachusetts and all over the U.S. with over 20 years of experience, for our clients, we are well-versed in handling cases such as these.
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Frequently Asked Questions

What are the recent penalties against United Planners?
The firm has faced over $1 million in penalties, including a $1.06 million settlement for fraudulent account statements and a $168,000 fine from Massachusetts regulators.
How can clients seek compensation for misconduct?
Clients may be eligible for compensation through arbitration or legal settlement. It’s important to document all communications and work with an attorney experienced in securities litigation.
What was the misconduct involving Philip Riposo?
Riposo allegedly misrepresented investments and issued fraudulent statements to clients over many years. United Planners is being held accountable for failing to supervise his actions.
What impact does regulatory scrutiny have on firms like United Planners?
It can likely lead to operational changes, increased audits, and potential reputational damage—all of which affect investor trust and the firm’s ability to manage client accounts effectively.
Recovering Losses Caused by Investment Misconduct.