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Ameriprise Told to Pay $1.17 Million to Elderly Couple after Unsuitable Real Estate Investment

Investors’ rights lawyers are advising senior investors to stay alert when looking at potential investment opportunities.  Recently,  a Financial Industry Regulatory Authority (FINRA) panel entered an arbitration award in favor of a senior couple against Ameriprise Financial Services Inc. regarding an investment made six years ago.

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Albertus Niehuis Jr. and his wife Andrea allegedly made an investment with Ameriprise Financial in early 2008 involving three high-risk tenant-in-common investments in hotels and office complexes. The total investment amount was $1.03 million.  One of these three investments failed completely, and the other two lost significant value.

Fortunately, Niehuis and his wife had the good sense to contact a securities arbitration lawyer, and their situation was put in front of a FINRA arbitration panel.  The FINRA panel found that Ameriprise’s investment advice was not appropriate considering the elderly couple’s risk tolerance and ordered Ameriprise to pay $1.17 million to the couple

If you suffered significant losses as a result of doing business with Ameriprise Financial Services Inc. or received an unsuitable recommendation involving high-risk investments from another stockbroker or financial advisor, you may be able to recover your losses through securities arbitration. To find out more about your legal rights and options, contact a securities arbitration lawyer at Law Office of Christopher J. Gray, P.C. at (866) 966-9598 or for a no-cost, confidential consultation.

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