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Andrew Drost Of Ameriprise Financial Services, LLC Has 3 Customer Complaints For Alleged Broker Misconduct

Who is Andrew Drost of Ameriprise Financial Services, LLC?

Andrew Drost (CRD #2466963) who is currently registered with Ameriprise Financial Services, LLC and located in Melville, New York is a subject of one of our many securities industry sales practice abuse investigations.

Andrew Drost Customer Complaints

Andrew Drost has been the subject of 3 customer complaints that we know about. One arbitration award was entered against Ameriprise Financial Services, LLC for Andrew Drost’s alleged misconduct causing investors losses. One of Andrew Drost’s customers’ complaints was denied and, to date, the customers have not taken any further action. There is currently one pending customer complaint filed against Ameriprise Financial Services, LLC for investment losses caused by Andrew Drost’s alleged misconduct.

Allegations Against Andrew Drost

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Claimants and owners of K&C Realty allege that Andrew Drost recommended they make an unsuitable 1031 Exchange with the proceeds of the sale of a building and reinvest the sale proceeds in three TIC investments in order to defer capital gains. Claimants alleged that one of the three TIC’s recommended was unsuitable and that they did not know that it was a TIC investment when the distributions were suspended.
  • The client alleged their REIT purchases allegedly made by Andrew Drost were unsuitable.
  • Andrew Drost’s alleged unsuitable investments; violations of FINRA conduct rules; negligent misrepresentations; breach of fiduciary duty; constructive fraud; breach of contract.

Andrew Drost Red Flags & Your Rights As An Investor

Of course, Andrew Drost did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Andrew Drost at Ameriprise Financial Services, LLC on alert to review carefully the activity and performance of their accounts and question whether Andrew Drost has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Ameriprise Financial Services, LLC also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Ameriprise Financial Services, LLC Due To Andrew Drost

If you have questions about Ameriprise Financial Services, LLC and/or Andrew Drost and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $160 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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