Ameriprise Financial Services Securities Attorneys
The securities attorneys at Gana LLP represent customers in their disputes with brokerage firms, such as Ameriprise Financial Services Inc. (Ameriprise). Our firm can analyze your accounts and investments in order to determine if there was any wrongdoing in the handling of your accounts. Our analysis can reveal whether an investor has been a victim of misconduct including unsuitable investments, unauthorized trading, excessive trading, 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 December 31, 2010, the company has a customer base of 3 million and more financial planning clients than any other firm.
Ameriprise – By the Numbers:
- CRD# 6363
- SEC# 8-16791
- 56 Regulatory Events
- 86 Customer Complaints
- Revenue: $10.26 billion – 2012
- Net income: $1.029 billion – 2012
- Total assets: $134.73 billion – 2012
- Employees: 12,235 - 2012
Ameriprise – In the News:
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.
The securities attorneys of Gana LLP have resolved hundreds of securities arbitration claims against brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.