Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against:
AMERIPRISE FINANCIAL SERVICES, LLC, and their registered representative,
NICHOLAS PAUL STAMATIS (Respondents).
According to the lawsuit, the Claimants are a married couple, retired, and living in Tennessee. The Claimants were introduced to AMERIPRISE broker, NICHOLAS PAUL STAMATIS in approximately 2017. According to the lawsuit, the Claimants were looking for safe, income-generating investments to sustain them through retirement that had no risk of loss to their irreplaceable retirement savings.
The lawsuit states that NICHOLAS PAUL STAMATIS, who was the Claimant’s broker/financial advisor, received a management fee in addition to commission on products he sold. STAMATIS allegedly made unsuitable recommendations that caused the Claimants to switch from several annuities with substantial losses in surrender fees to another annuity. In addition to the surrender fees the annuities also lost approximately another $1 million dollars in principal losses.
The lawsuit states that in addition to the devastating annuity losses, the Respondents also invested $800,000 into JP Morgan structured notes. The Respondents allegedly misrepresented the investments as fully principal protected and a two-year term to maturity. One $200,000 structured note was later discovered to have a three-year term and all three notes have no principal protection. The lawsuit alleges that the Claimants were promised by NICHOLAS PAUL STAMATIS, a 100% of return of their principal plus a 5% interest on their money inside of two years. There was approximately an $80,000 short fall on these structured notes where allegedly the risks were never properly explained to the Claimants.
This lawsuit alleges AMERIPRISE and their registered representative, NICHOLAS PAUL STAMATIS’ actions have caused damages to the Claimants of approximately $1,200,000.00. The lawsuit alleges: negligence, breach of fiduciary duty, and negligent supervision. No answer has been filed yet and it is anticipated that both Respondents will deny all wrongdoing.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, NICHOLAS PAUL STAMATIS, has been in the securities industry for 19 years and has been listed with 2 firms. He is currently listed, since 2005, both as a broker and as an Investment Advisor with:
AMERIPRISE FINANCIAL SERVICES, LLC
751 Cool Springs Blvd
STE 200
FRANKLIN, TN 37067-2730
If you’ve experienced investment losses due to the actions or recommendations of NICHOLAS PAUL STAMATIS and/or AMERIPRISE FINANCIAL SERVICES, of Franklin, Tennessee, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA on a contingency fee basis, no fee to you if no recovery.
Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
William Tunink (CRD: 2738224) settled a customer claim for $299,000 on August 11, 2026, according to his BrokerCheck report. The customer alleged that he obtained loans from the customer, and that some of the money went into an investment.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
Phone:
Fax: 1-954-760-6553
Email: [email protected]