Investors may have faced losses due to Clifton Brent Smith [CRD: 2658251, Atlanta, Georgia], based on disclosures found on the Financial Industry Regulatory Authority (FINRA) BrokerCheck. Smith, a financial advisor and securities broker regulated by FINRA, joined Raymond James Associates Inc. in Atlanta, Georgia, on November 7, 2023. Prior to this, his career included stints at Ameriprise Financial Services LLC in Atlanta, Georgia, and Morgan Stanley in Orlando, Florida. Continue reading for more on the client disputes involving Smith.
Morgan Stanley Investor Accused Smith Of Unsuitable Annuity Recommendations
Particularly, on August 7, 2023, a Morgan Stanley client lodged a written complaint about Clifton Smith. The client contended that Smith made unsuitable recommendations, specifically regarding the purchase of a variable annuity. As a result, the client sought $22,500 in damages. However, the complaint was subsequently denied by the firm.
Clifton Smith Disclosed Unsuitable Variable Annuity Allegations By Ameriprise Financial Services LLC Client
Also, on July 27, 2023, an Ameriprise Financial Services LLC client expressed concerns about Clifton Smith's sales practices. In a written complaint, the client alleged that Smith recommended unsuitable variable annuity contracts. Consequently, the client reported damages amounting to $73,350.80. This complaint, like the first, was also denied.
Client Expressed Variable Annuity Concerns At Ameriprise Financial Services LLC
Specifically, on September 19, 2022, another Ameriprise Financial Services LLC client filed a written complaint. The client claimed that in June 2021, Smith should not have purchased a variable annuity for her, arguing it was unsuitable. The alleged damages were reported as $27,287.09. however, the firm denied the complaint.
Have You Experienced Damages With Clifton Smith?
If you experienced losses, connect with Soreide Law Group online or at (888) 760-6552 to discuss a potential recovery. Soreide Law Group has successfully recuperated losses for investors across the United States, working on a contingency fee basis and advancing all costs. Clifton Smith and the brokerage firms he worked for deny any accusations of sales practice violations.
