Ameriprise is a real surprise!

“Financial Advisors forged customers signatures at least 96 times in order to articficially inflate sales volume. and to hide the fact that they hadn’t met commitments to deliver completed financial plans.” -WSJ4/10/08
Okay, you say, a few bad apples. So what?
The firm’s signature product is its low cost financial plan delivered to clients in a book form to sell them products.
What happened to Financial Advisors acting as a fiduciary? Oh yeah, I forgot. The SEC still has that rule in force that brokers are exempt from acting as a fiduciary (that is, putting their client’s interests first) because they really aren’t Advisors but Salespeople. That’s funny because they call themselves Financial Advisors.
Are you confused yet?
So if the American public.

Tagged as: Financial plans fiduciary SEC