Mike Kloubec: Did Ameriprise Advisor Steal Investor Funds?

Monticello, Minnesota financial advisor Mike Kloubec (CRD# 2415021) recently received an investor complaint alleging he committed theft. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Ameriprise Financial Services, and that he has received other investor complaints.

Mr. Kloubec’s BrokerCheck report discloses three investor complaints. The most recent, filed in June 2023, alleges that as a representative of Ameriprise Financial Services, he stole the customer’s funds. The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 2006, alleged that as an Ameriprise Financial Services representative, he recommended unsuitable Class B mutual fund shares. The complaint alleged damages of $5,000 and was denied by the firm.

A third investor complaint, filed in 2003, alleged that as a representative of American Express Financial Advisors, he did not fully explain the features of a variable life insurance policy. The complaint alleged damages of $92,326 and was denied by the firm.

According to the Financial Industry Regulatory Authority, Mike Kloubec holds 28 years of securities industry experience. Based in Monticello, Minnesota, he has been a broker and an investment advisor with Ameriprise Financial Services since 1995 and 2012, respectively. He was previously registered with IDS Life Insurance Company in Minneapolis, Minnesota from 1995 until 2006. 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 Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, Colorado, Florida, Kansas, Massachusetts, Michigan, Minnesota, North Dakota, Oregon, South Dakota, Tennessee, Texas, Virginia, Washington, and Wisconsin. (Information current as of June 24, 2023.)

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