Ameriprise Advisor Brandon Horton Faces $400K Complaint

Birmingham financial advisor Brandon Horton (CRD# 4569003) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Ameriprise Financial Services.

Mr. Horton’s BrokerCheck report discloses one investor complaint. Filed in June 2023, it alleges that as a representative of Ameriprise Financial Services, he recommended unsuitable mutual fund investments in the customer’s portfolio. The pending complaint alleges damages of $400,000.

FINRA’s suitability standard states that stockbrokers must “have a reasonable basis to believe” that the investments they recommend for their clients are suitable. As FINRA Rule 2111 states, brokers must base their assessment of a recommendation’s suitability “on the information obtained through reasonable diligence of the firm or associated person to ascertain the customer’s investment profile.” An investor’s profile encompasses their age, risk tolerance, tax status, income, and more. “A broker’s ‘recommendation,’ which is based on the facts and circumstances of a particular case, is the triggering event for application of the rule,” the rule states. Representatives who recommend unsuitable investments may be liable in the event of losses.

According to the Financial Industry Regulatory Authority, Brandon Horton holds 20 years of securities industry experience. Based in Birmingham, Alabama, he has been a broker and an investment advisor with Ameriprise Financial Services since 2002. He was previously registered with IDS Life Insurance Company in Minneapolis, Minnesota from 2002 until 2004. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Alabama, Colorado, Connecticut, Florida, Georgia, Indiana, Ohio, South Carolina, and Tennessee. (Information current as of July 9, 2023.)

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