Jason Doneth: Ameriprise Advisors Faces $100K Complaint

Salem, Oregon financial advisor Jason Doneth (CRD# 4696330) recently received an investor complaint alleging that he recommended an unsuitable annuity. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Ameriprise Financial Services.

Mr. Doneth’s BrokerCheck report discloses one investor complaint. Filed in October 2024, it alleges that as a representative of LPL Financial, he made “unsuitable investment recommendations relating to a variable annuity” that resulted in losses. The pending complaint alleges damages of $100,000.

A report published by ThinkAdvisor in September 2024 describes a lawsuit against Mr. Doneth. According to the article, the lawsuit alleges financial abuse against an elderly client in connection with an annuity investment. It concerns a client who died in 2022. As alleged, she was 83 when Mr. Doneth “met with her at an her extended care facility and ‘encouraged her to transfer her assets into a financial vehicle that she did not understand so that he could invest her money.’”

It alleges further that he convinced the client to allow him to make an annuity transfer “by advising her that it was a good choice for her and that she would make her money back by postponing distributions to her from the annuity.” She allegedly said to her children that she felt he pressured her to do this, according to the report. After she died, the lawsuit alleges, Mr. Doneth “insisted” that her three children “open accounts through him with Ameriprise in order to receive the proceeds from their mother’s estate.” It also states that she informed her children “that she did not know or understand what [Mr.] Doneth did with her money.” More information about the lawsuit can be found in ThinkAdvisor’s report.

According to the Financial Industry Regulatory Authority, Jason Doneth holds 20 years of securities industry experience. Based in Salem, Oregon, he has been registered as a broker and an investment advisor with Ameriprise Financial Services since 2015. He was previously registered with LPL Financial in Keizer, Oregon from 2005 until 2015. He is licensed in Alaska, Arizona, California, Colorado, Georgia, Idaho, Indiana, Kentucky, Michigan, Missouri, Nevada, North Carolina, Ohio, Oklahoma, Oregon, Tennessee, Texas, Virginia, Washington, and Wyoming. (Information current as of December 3, 2024.)

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