Mike Lader: $100K Complaint Against Ameriprise Advisor

A recent investor complaint against Palm Beach Gardens, Florida financial advisor Mike Lader (CRD# 5158093) alleges that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Ameriprise Financial Services.

Mr. Lader’s BrokerCheck report discloses one investor complaint. Filed in April 2026, it alleges that as a representative of Ameriprise Financial Services, he “recommended a 1035 exchange into a Variable Universal Life and the purchase of a variable long-term care product that were unsuitable, improperly structured, and intended to generate commissions.” The pending complaint, which also alleges that he failed to provide an illustrated rider and under-funded the investment, alleges damages of $100,000.

An unsuitable investment, as outlined by FINRA Rule 2111, is one which the broker does not have a reasonable basis to believe is suited to a customer’s specific profile. An investor’s profile “includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance,” and other factors. FINRA rules require brokers to perform reasonable diligence to determine a customer’s profile. Then, they must use this determination to evaluate the suitability of an investment or strategy for that customer. Brokers who recommend unsuitable investments may be liable to their customers in the event of losses.

According to the Financial Industry Regulatory Authority, Mike Lader holds 19 years of securities industry experience. Based in Palm Beach Gardens, Florida, he has been registered as a broker and an investment advisor with Ameriprise Financial Services since 2024 and 2014, respectively. His past registrations include NewEdge Advisors, LPL Financial, and Edward Jones. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the Uniform Securities Agent State Law Examination, or Series 63; and the General Securities Representative Examination, or Series 7. He is licensed in Colorado, Florida, Georgia, Illinois, Kentucky, Michigan, Minnesota, New York, North Carolina, Ohio, and Tennessee. (Information current as of May 23, 2026.)

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.