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Brian Jackson: Investor Complaint Against Riverside Advisor
Ameriprise Financial Services advisor Brian Jackson (CRD# 3188036) has received an investor complaint alleging more than $500,000 in damages. Financial Industry Regulatory Authority records show that the broker and investment advisor is based in Riverside, California.
Mr. Jackson’s BrokerCheck report discloses one investor complaint against him. Filed in April 2022, the complaint alleges that as a representative of Ameriprise Financial Services, he made recommendations that result in lost value in the customer’s portfolio. The pending complaint alleges damages of $536,843.
FINRA rules prohibit brokers from making investment recommendations that are considered unsuitable for an investor. Unsuitable investments and strategies are understood as those not based in a “firm understanding of both the product and the customer,” as described by FINRA Rule 2111. This rule stipulates that brokers must conduct “reasonable diligence” to ascertain whether investments are suitable for a customer’s background and objectives. They must ensure that the recommendation is suitable for some investors; that it is suitable for the individual customer to which they are making it; and that, if they are recommending a series of transactions to a customer over whose account they have actual or de facto control, the transactions are suitable when taken together as well as when viewed in isolation. Brokers who make unsuitable investment recommendations may be liable to their clients in the event of losses.
According to the Financial Industry Regulatory Authority, Brian Jackson holds 23 years of securities industry experience. Based in Riverside, California, he has been a broker and investment advisor with Ameriprise Financial Services since 1999. He was formerly registered with IDS Life Insurance Company in Minneapolis, Minnesota from 1999 until 2006. His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; and the Securities Industry Essentials Examination, or SIE. He is licensed in Arizona, California, Colorado, Florida, Georgia, Idaho, Iowa, Maryland, Nevada, New Mexico, North Carolina, Oklahoma, Oregon, Tennessee, Texas, Virginia, Washington, and West Virginia. (Information current as of July 7, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.