Suffered Investment Losses From Ameriprise Broker Jason Tuberosa?

Soreide Law Group is investigating potential claims on behalf of those who invested with Jason Richard Tuberosa (CRD#: 1277676, Sun City Center, Florida), who is a securities representative and supervisor for Ameriprise Financial Services, Inc. Jason Tuberosa commenced employment at Ameriprise Financial Services offices in Sun City Center, Florida on December 6, 2004. According to Jason Tuberosa’s Financial Industry Regulatory Authority (“FINRA”) BrokerCheck Profile, he disclosed fourteen customer-initiated, investment-related disputes. Namely, those disputes, some of which are summarized below, concern allegations of Jason Tuberosa’s unsuitable sales practices, misrepresentations, and violations of Chapter 517 of the Florida Statutes.

January 16, 2018 Arbitration About Mismanagement, Unsuitability, Failure To Supervise

 
An Ameriprise Financial Services, Inc. customer brought a FINRA Arbitration Claim #18-01197 on April 5, 2018. First, customers claimed that Jason Tuberosa mismanaged the customer’s asset portfolio. Specifically, the customers contended that starting in April 2015, Jason Tuberosa, or someone who he supervised, used an unsuitable investment strategy involving equities trades and options trades. Secondly, customers claimed that Ameriprise did not reasonably supervise trades in the customer’s account. Third, the customer alleged that Jason Tuberosa or another broker under his command misrepresented the customers’ financial profile particularly concerning the customers’ investment experience. Because of this, the customers requested $700,000.00 in damages. Apparently, this matter is ongoing.

January 14, 2015 Complaint About Unnecessary Annuity Riders

 
A customer of Ameriprise Financial Services, Inc. filed a complaint involving Jason Tuberosa’s activities with regard to a variable annuity. Evidently, Jason Tuberosa, or someone under Jason Tuberosa’s supervision, sold the customer a RiverSource Rava5 Advantage – a variable annuity. Allegedly, there was no legitimate basis for the customer to have purchased this annuity’s enhanced death benefit rider. The customer indicated that the rider was not suitable for the customer’s needs. While this may be true, Ameriprise Financial services denied the customer’s allegations.

March 8, 2011 Complaint About Unsuitable Convertible Notes

 
Another one of Jason Tuberosa’s disclosures concerns an Ameriprise Financial Services customer’s March 8, 2011 Complaint about reverse convertible notes. Allegedly, the advisor improperly recommended that the customer buy the convertible notes. Apparently, the reverse convertible notes were not appropriate given the customer’s investment objectives. Because of this, Ameriprise Financial Services, Inc. settled the customer’s allegations by paying the customer $155,000.00. However, the firm did not admit to being liable on the customer’s claim.

January 19, 2010 Complaint Regarding Excessive And Unauthorized Trading

 
A customer of Ameriprise Financial Services referenced Jason Tuberosa in a January 19, 2010 complaint. Specifically, the customer brought a number of causes of action, including unsuitability, misrepresentation, breach of contract, excessive trading, breach of fiduciary duty, and unreasonable margin use. Allegedly, Jason Tuberosa, or someone Jason Tuberosa supervised, made unauthorized, unsuitable, and excessive trades of stock, equities and corporate debt. Allegedly, an Ameriprise broker, possibly being Jason Tuberosa, was negligent in making those trades and violated the terms of the customer’s investment contract. All things considered, Ameriprise Financial Services provided the customer $55,000.00 in compensation to settle the matter.

Have you experienced losses by investing with Ameriprise Financial Services’ Jason Tuberosa? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.