Public records published by the Financial Industry Regulatory Authority (FINRA) on December 25, 2016 indicate that Maryland-based Ameriprise Investment Services broker/adviser Gautam Bose has been named in a pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Bose (CRD# 2426395).
Gautam Bose has spent 23 years in the securities industry and has been registered with Ameriprise Financial Services in Baltimore, Maryland since December 2015. Previous registrations include Next Financial Group in Bethesda, Maryland; Sagepoint Financial in Bethesda, Maryland; SunAmerica Securities in Phoenix, Arizona; Quick & Reilly in New York, New York; Citigroup Global Markets in New York, New York; Merrill Lynch in New York, New York; and Smith Barney in New York, New York. He is a registered broker and investment adviser with 38 US states and territories.
According to his BrokerCheck report, Gautam Bose has received one pending customer complaint.
In November 2016 a customer alleged Gautam Bose, while employed at Sagepoint Financial and Next Financial Group, “failed to disclose material facts regarding the nature and risks of investments in REITs and a variable annuity preventing customers from taking legal action against Sagepoint Financial until after the statutes of limitation had already run.” The customer is seeking $365,000 in damages in the pending complaint.
A real estate investment trust, or REIT, is an entity that owns assorted forms of real estate, or interests in real estate. As an investment product, REITs use the combined funds from a pool of investors to purchase real estate property; they can be publicly traded or privately held, traded on the stock market or not traded at all. As such, they are highly illiquid investments. While they have the benefit of extending new opportunities to investors who otherwise could not access certain real estate investments, non-traded REITs may be particularly risky for short-term investors and even long-term investors. They are additionally taxed on an individual level and can lead to property taxes as high as 25% of the sum operating expenses. Investment professionals who recommend unsuitable REITs may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have complaints regarding Gautam Bose, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.