Securities Lawyers Blog
Advisor Kevin Houser (Houser), currently employed by brokerage firm Ameriprise Financial Services, LLC (Ameriprise) has been subject to at least four customer complaints during the course of his career. According to a BrokerCheck report several of the customer complaints concern 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.
In November 2020 a customer complained that Houser violated the securities laws by alleging that Houser made misleading recommendations in various REITs and BDCs including Franklin Square, Cole Credit Property Trust IV, and CIM REIT. The claim involves alternative investments and alleges $358,000 damages, and is currently pending.
In July 2020 a customer complained that Houser violated the securities laws by alleging that Houser made misleading recommendations in various REITs, BDCs, and an annuity including Franklin Square. The claim involves alternative investments and alleges $300,000 damages, and is currently pending.