Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffrey Johnson (Johnson), previously associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Johnson 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 $41,413.47 on May 24, 2023.
The clients allege their Dollar Cost Averaging (DCA) arrangement inactivated in 2016 in error, resulting in their Indexed Universal Life (IUL) policies being underfunded as their cash value remained in the fixed account. In addition, one client alleged that there was also a missed premium payment of $42,000 in August of 2016.