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Gary Menzer, Esq. is a Founding Partner with The Securities Law Firm of Menzer & Hill, P.A. The Firm represents aggrieved investors that have sustained investment losses due to the negligence of their stock broker or financial advisor and the failure to supervise by their Broker-Dealer. The Firm... More
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  • Ameriprise Financial - Investment Losses 1 comment
    Jun 21, 2013 2:34 PM | about stocks: AMP

    Many investors have sustained losses investing with Ameriprise Financial. Upon information and belief, Ameriprise Brokers or Financial Advisors have recommended many Non-Traded REITs to their clients. Allegedly, these advisors are soliciting these REITs to their clients as conservative investments and/or as an alternative to the risks involved with the equity markets.

    According to The Securities Law Firm of Menzer & Hill, P.A., many of the individuals we speak with have informed us that their Broker-Dealer(s) have led them to believe that Non-Traded REITs are safe investments that pay a fixed return each month and they will receive their entire principal investment back at the conclusion of the investment period. Unfortunately for many investors, they've learned that is not the case.

    The fact of the matter is many Non-Traded REITs contain substantial risks and are not suitable for many investors. Many Brokerage Firms are soliciting these types of investments because they tend to be some of the most profitable investment products the Broker-Dealer offers.

    Fortunately for many individuals that have sustained investment losses, they have the opportunity to possibly recover their losses if the Brokerage Firm misrepresented the risks involved with the investment, through a FINRA arbitration.

    Stocks: AMP
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  • mikey49
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    Comment (1) | Send Message
    I am a former Ameriprise client with a bad news/good news story with respect to the non-traded REITS. The bad news is that my "Adviser" (I use the term loosely), recommended getting into REITS back in the mid-2000's, specifically Inland American and KBS. As has been well documented, the value of both have plummeted, each from an initial price of $10.00/share to current levels of $6.93 and $5.18 respectively, with the dividend suspended at KBS. The good news is that I'm relatively young (49) and I only put a small portion of my portfolio, $10,000 ($5,000 each), in these "investments," so my exposure has been low. Nonetheless, I still feel that both were misrepresented to me by Ameriprise as being conservative, divident paying, and liquid in a sense in that they would be put on the market at some vague point in the not too distant future. Now I've come to learn that Ameriprise was hawking KBS and Inland based on the high fees/commmissions they were paying and my investment had nothing to do with my best interest. I'm just happy I steered clear of the variable annuities my advisor was also trying to get me into at the time!


    Any thoughts on where things may be heading in the short/long term? In a naive way, I thought we would see a significant revaluation of price based on the rebound in Real Estate, but that obviously has yet to happen. All I know is that the KBS and Inland executives seem to be laughing all the way to the bank, not to mention Ameriprise and its minions, who profited nicely off the backs of their clients! :(
    19 Jul 2013, 09:25 AM Reply Like
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