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Ameriprise Securities Disputes

Handling Ameriprise Security Disputes in NY & Beyond

The securities attorneys and investment attorneys at Weltz Law represent customers in their disputes with brokerage firms, such as American Financial Services LLC (Ameriprise). Many investors do not realize when their financial advisor engages in securities or investment broker misconduct, but there are steps that can be taken to recover losses. Our securities attorneys and investment attorneys can analyze your accounts and investments in order to determine if there was any wrongdoing in the handling of your accounts, which resulted in stock market losses. There are many different types of securities related misconduct including breach of fiduciary duty, failure to supervise, misrepresentation, and churning. Our analysis can reveal whether an investor has been a victim of misconduct including unsuitable investments, unauthorized trading, excessive trading, financial elder abuse or fraud. Ameriprise is affiliated with, under common control, or otherwise performs business under the company names American Express Financial Advisors, Inc., IDS Marketing Corporation, American Enterprise Investment Services Inc., Columbia Wanger Asset Management, and Riversource Distributors, Inc. Ameriprise is a leading diversified financial services company. Ameriprise, through its subsidiaries, provides a wide range of financial planning, products, and services including wealth management, asset management, insurance, annuities, and estate planning. As of March 19, 2020, the company has a customer base of 2 million+ individual, business and institutional clients.

Ameriprise – By the Numbers

  • CRD# 6363
  • SEC# 8-16791
  • 78 Regulatory Events
  • 98 Customer Complaints
  • 1 Civil Event
  • Revenue: $12.96 billion – 2019
  • Net income: $2.135 billion – 2018
  • Total assets: $47.47 billion – 2017
  • Employees: 13,000+ – 2017
  • Assets Under Management: $875 Billion – 2019

Ameriprise – In the News

Harold B. Wooten, Executor of the Estate of Glenny B. White vs. Ameriprise Financial Services, Inc. Case #14-03531: Claimant awarded $2,036,890 related to causes of action for conversion, fraud, breach of fiduciary duties, failure to supervise, embezzlement, misrepresentation, respondeat superior, and omission of facts. Jan E. Tullis and Scott K. Tullis cs. Ameriprise Financial Services, Inc. and Andrew Joseph Hall. Case # 16-01261: Claimants awarded $191,772.00 related to cause of action for mishandled accounts, negligence, breach of fiduciary duty, violation of Oregon securities laws and applicable regulation laws, unsuitability, and failure to supervise. The causes of action relate to Claimants’ investments in First Trust Unit Investment Trust. Estate of Kari Lyn Larson, Tab R. Larson, and Jan A. Larson vs. Ameriprise Financial Services, Inc. Case # 16-01613: Claimants awarded $440,158.00 related to causes of action for breach of fiduciary duty; omission of facts; breach of contract. The causes of action relate to Claimants’ allegations that Respondent made improper distributions to an individual who was not a proper beneficiary of a non-qualified account and two IRA accounts. Selma Melliza vs. Ameriprise Financial Services, Inc. Case #: 17-03206: Claimant awarded $46,006.00. Claimant asserted causes of action related to violations of FINRA’s rules, Suitability, Failure to Supervise, negligence; gross negligence; negligent misrepresentation/omission; negligent hiring; negligent retention; negligent supervision; breach of the duty of good faith and fair dealing; breach of contract; breach of fiduciary duty; aiding and abetting a breach of fiduciary duty; fraud; aiding and abetting fraud; violation of Section 10b and Rule 10b-5 of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) and 17 C.F.R. § 240.10b-5; aiding and abetting a violation of Section 10b and Rule 10b-5 of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) and 17 C.F.R. § 240.10b-5; violation of Section 206 of Investment Advisers Act of 1940, 15 U.S.C. § 80b-6; aiding and abetting a violation of Section 206 of Investment Advisers Act of 1940, 15 U.S.C. § 80b-6.; misrepresentations/non-disclosures; omission of facts; suitability; and failure to supervise. FINRA v. Ameriprise Financial Services, Inc. et al, AWC No. 2010025157301 – FINRA fined Ameriprise and its affiliated clearing firm, American Enterprise Investment Services Inc. (AEIS), $750,000 for failing to have reasonable supervisory systems in place to monitor certain wire transfer and the transmittal of customer funds to third-party accounts. FINRA’s allegations concerned the regulators previous barring of a former Ameriprise registered representative for converting approximately $790,000 from two customers over a four-year period by forging their signatures on wire transfer requests and disbursing the funds to bank accounts she controlled. In the Matter of Ameriprise Financial Services, Inc. – Non Traded REITs, Case No. E-2013-0045 – Ameriprise, along with four other independent brokerage firms paid $6 million in restitution to settle with the state of Massachusetts concerning allegations that the firms improperly sold non-traded real estate investment trusts (REITs). Ameriprise agreed to pay a $400,000 fine and make $2.59 million in restitution to investors. In the Matter of Ameriprise Financial Services, Inc – Ameriprise settled with both the Securities and Exchange Commission (SEC) and the NASD for total fines of $57.3 million for directed-brokerage, market-timing and revenue-sharing violations. The SEC fined Ameriprise $15 million in disgorgement and civil penalties for allowing certain shareholders to market time the American Express Funds when the fund's prospectus specifically forbids market timing.

Work with an Experienced Securities Lawyer and Investment Lawyer

If you sustained losses because of Accelerated Capital and by your broker, it is crucial to engage an experienced securities attorneys and investment attorneys to represent you in your pursuit of the damages cause by Accelerated Capital. Weltz Law is a New York based law firm that regularly represents individuals and businesses in FINRA and AAA arbitration proceedings and litigation in state and federal courts in New York and throughout the country.

You can contact us through the online form or at (877) 905-7671 to set up a consultation regarding your case and to find out how the FINRA process works.

What Sets us apart? 

Experienced & Effective
  • 30+ Years of Collective Experience

    Our attorneys have over 30 years of collective experience representing clients in all aspects of securities and commercial litigation.

  • Contingency Fees for Our Securities Law Clients

    We will not receive a penny in attorney's fees unless a positive recovery is obtained in your case. Contact us to see if you're eligible.

  • Free Consultations

    We will assess the merits of your claims and help you decide on the next step.

  • Litigated Claims in Excess of $50 Million for Our Clients

    Our firm is prepared to fight for you to seek maximum compensation.


Word From Former Clients
    Calmly walked me through the process.

    “Due to his hard work, the hearing lasted less than 30 minutes with the judge dismissing the complaint.”

    - L.K.
    Successfully represented me in a number of matters

    “Attentive to every aspect of my matters, always available to speak with me, gave me great advice and fought hard for me every step of the way.”

    - I.S.
    Truly terrific in every way.

    “He cared, he was responsive, and he guided me through a difficult time with compassion and expertise.”

    - F.S.
    I could not recommend him highly enough!

    “He was there to talk me through any questions and concerns I had until we decided on the best option for me.”

    - Securities Industry
    Smart, cost-efficient, and gets results.

    “My go-to lawyer for arbitration and regulatory matters for years.”

    - B.D.

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