Published on:

Broker Complaints: Ameritas Investment Corporation (CRD# 14869)

The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding the Nebraska-based brokerage and advisory firm Ameritas Investment Corporation (CRD# 14869).

Ameritas Investment Corporation is a broker-dealer and investment adviser registered in fifty-one US states and territories. Formed in 1984, Ameritas is headquartered in Lincoln, Nebraska. Its securities are cleared through National Financial Services and RBC Correspondent Services.

According to its BrokerCheck report, Ameritas Investment Corp. is the subject of ten regulatory actions and one customer complaint.

In 2014 the State of Iowa filed a complaint alleging Ameritas Investment Corp. sold unsuitable investments to an Iowa customer and failed to supervise the registered representative who made the sale. Ameritas was issued a civil penalty of $10,000.

In 2012 a customer alleged Ameritas Investment Corp. engaged in breach of fiduciary duty, breach of contract, negligence, failure to supervise, and the misrepresentation and sale of an unsuitable investment in real estate investment trusts (REITs). The complaint resulted in an award to the customer of more than $37,000.

In 2010 the South Dakota Department of Revenue and Regulation’s Division of Securities filed a complaint alleging Ameritas Investment Corp. failed to expeditiously deliver a life insurance policy to a client. The complaint additionally alleged Ameritas failed to supervise the representative responsible for delivering the policy in question. Ameritas was issued a penalty of $5,000.

In 2009 the Financial Industry Regulatory Authority (FINRA) filed a complaint alleging Ameritas Investment Corp. used communications with the public that contained misleading statements and omitted material facts about the products recommended. FINRA additionally alleged that the representative responsible for said communications sold unsuitable products to Ameritas customers. Ameritas was censured and issued a penalty of $100,000.

In 2007 the State of Florida Office of Financial Regulation alleged Ameritas Investment Corp. failed to supervise two individuals with relation to their seminar activities, email approval and retention, disclosure of outside business activities, and employment history. Ameritas was issued a penalty of $65,000 and ordered to retain a private consultant to review procedures.

In 2006 the Texas State Securities Board filed a complaint alleging Ameritas Investment Corp. failed to amend a U-4 form relating to a representative’s outside business activities, and a U-5 form disclosing a representative’s termination for failure to comply with firm protocol. The complaint further alleged that Ameritas failed to register a branch office. Ameritas was issued a penalty of $25,000.

If you have lost money investing with Ameritas Investment Corp., you may be entitled to recoup your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency, which means we only get paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.