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Mitchell Jacobs: $222K Complaint Against Ameriprise Advisor
A recent investor complaint against Houston financial advisor Mitchell Jacobs (CRD# 2634912) alleges damages of more than $200,000. Records provided by the Financial Industry Regulatory Authority show that he is currently registered as a broker and an investment advisor with Ameriprise Financial Services.
Mr. Jacobs’ BrokerCheck report discloses one investor complaint. Filed in August 2023, it alleges that as a representative of Ameriprise Financial Services, he failed to follow the client’s request to liquidate bonds and purchase certificates of deposit. The pending complaint alleges damages of $222,483.62.
FINRA Rule 2010 stipulates that FINRA-associated persons must “observe high standards of commercial honor and just and equitable principles of trade.” A number of forms of unethical conduct, such as a broker’s failure to follow a client’s instructions, may be considered violations of FINRA Rule 2010, provided the alleged activities occur “in the conduct of [the member’s] business.” Brokers who fail to uphold FINRA Rule 2010 may be held liable for losses.
According to the Financial Industry Regulatory Authority, Mitchell Jacobs holds 28 years of securities industry experience. Based in Houston, Texas, he has been a broker and an investment advisor with Ameriprise Financial Services since 2009. His past registrations include Ameriprise Advisor Services (Houston, Texas; 1995-2009) and RSM McGladrey (Houston, Texas; 2002-2003). His credentials include the passage of seven securities industry qualifying exams: the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the Municipal Securities Representative Examination, or Series 52; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arkansas, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Missouri, Pennsylvania, Texas, and Virginia. (Information current as of September 25, 2023.)
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.