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.
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