Securities Lawyers Blog
Previously financial advisor Jatana Norris (Norris), previously employed by brokerage firm Ameriprise Financial Services, INC. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.
FINRA BrokerCheck shows a settled customer complaint on May 07, 2020.
Claimants allege respondents recommended variable annuities, non-traded REITs and non-traded BDC’s and the investments were unsuitable for them. Claimants also allege that Ameriprise failed to supervise the Claimants’ advisors. Claimants’ causes of action are breach of fiduciary duty and negligence.