According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Maria Alvarez (Alvarez), previously associated with Ameriprise Financial Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Alvarez recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,450,000.00 on July 30, 2020.
Claimant alleges that on or about April 2018 his IPI advisor solicited and recommended an outside investment of $500,000 in diesel. Claimant alleges that he has not been repaid the $500,000 nor received any earnings. In addition, he alleges that he incurred tax liabilities of at least $200,000 because of the withdrawal of the investment amount. Claimant’s causes of action are negligence; negligent supervision; negligent hiring/retention; breach of fiduciary duty, and joint venture/joint enterprise liability. The case was originally filed in state court and received on 4/8/20. Ameriprise received the statement of claim on 7/30/20. Claimant filed an Amended Statement of Claim on 10/13/20 in which he expanded his claim to include allegations that the variable annuity he purchased in 2015 was unsuitable. He requests damages of $1,450,000 plus interest, exemplary damages, costs and fees.
Securities Lawyers Blog
