Larry Nelson: $1.88mm Complaint Against Ameriprise Advisor

Salinas, California financial advisor Larry Nelson (CRD# 2275834) allegedly made unauthorized trades and engaged in predatory sales practice, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Ameriprise Financial Services.

Mr. Nelson’s BrokerCheck report discloses two investor complaints. The most recent, filed in August 2026, it alleges that as a representative of Ameriprise Financial Services, he made unauthorized transactions, breached his fiduciary duty, violated Regulation Best Interest, and employed predatory sales practices. The pending complaint alleges damages of $1,881,039.19.

A second investor complaint, filed in April 2003, alleged that as a representative of American Express Financial Advisors, he mismanaged the customer’s investments. The complaint alleged damages of $72,489 and was denied by the firm.

Investors should be aware that various FINRA rules forbid representatives like Mr. Nelson from making trades without a customer’s authorization. FINRA Rule 3260, for example, describes certain conditions under which brokers can make discretionary trades, and forbids the use of discretion without the customer’s prior written authorization and the firm’s written acceptance of the account as discretionary. FINRA Rule 2010, meanwhile, requires brokers to “observe high standards of commercial honor and just and equitable principles of trade,” which generally means that they may not perform unauthorized transactions. Brokers who violate these rules may be held liable for damages.

According to the Financial Industry Regulatory Authority, Larry Nelson holds 33 years of securities industry experience. Based in Salinas, California, he has been registered as a broker and an investment advisor with Ameriprise Financial Services since 1992 and 1997, respectively. He was previously registered with IDS Life Insurance. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 10 state licenses. (Information current as of September 19, 2026.)

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