Steve Brundage: $1.2mm Complaint Against Ameriprise Advisor

Las Vegas, Nevada financial advisor Steve Brundage (CRD# 2597779) recently received an investor complaint alleging that his conduct resulted in damages of more than $1 million. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Ameriprise Financial Services.

Mr. Brundage’s BrokerCheck report discloses two investor complaints. The most recent, filed in September 2025, alleges that as a representative of Ameriprise Financial Services, he concentrated the customers’ accounts in mutual funds and recommended proprietary variable annuity investments that resulted in losses. The pending complaint alleges damages of $1,212,685.

An earlier investor complaint, filed in 2008, alleged that as an Ameriprise Financial Services representative, he recommended an annuity investment with an unsuitable surrender charge period. The complaint reached a settlement of $4,131.90.

In a statement included with the disclosure, Mr. Brundage defended himself against the allegations. “Our review indicated the annuity was suitable in relation to the surrender charge as the client had stated his investment time frame was ten years plus, per the advisor’s notes,” it explains. “The client also stated they had not received the contract, which was mailed directly from the home office. Per his request, a second contract was mailed to him and he requested a free look based on the date of receipt of the second contract. In the interest of good client relations, the second contract delivery date was honored and the contract was reversed.”

According to the Financial Industry Regulatory Authority, Steve Brundage holds 29 years of securities industry experience. Based in Las Vegas, Nevada, he has been registered as a broker and an investment advisor with Ameriprise Financial Services since 1996 and 2001, respectively. He was previously registered with IDS Life Insurance Company. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He holds 30 state licenses. (Information current as of October 14, 2025.)

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