Albert Bevilacqua is Facing Unsuitable Investment Allegations

Albert Bevilacqua (CRD #: 2656029), a broker registered with Ameriprise, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on January 19, 2024. Keep reading if you have questions concerning his alleged conduct. 

On October 25, 2023, an investor alleged that Albert Bevilacqua recommended he invest his retirement funds in two unsuitable, high-commission investments: FS Energy and Power Fund  – a non-traded Business Development Company – and Securian variable annuity. 

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. Furthermore, the risk associated with this type of illiquid investment makes it unsuitable for many investors. 

BDCs

Business Development Companies (BDCs) extend loans to small and medium-sized companies, typically those that are distressed. While the high-interest rates charged by BDCs can mean high returns for investors, the possibility of the company defaulting on the loan and other risks can make BDCs unsuitable. Non-traded BDCs are especially risky due to their illiquid nature. 

Background Information 

Albert Bevilacqua has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 20 states and Puerto Rico and is a registered investment adviser in Florida and Texas. 

During his 27 years of experience, Albert Bevilacqua has registered with four firms: 

• Ameriprise Financial Services (CRD #: 6363) 
• IDS Life Insurance Company (CRD #: 6321) 
• Paragon Capital Markets (CRD #: 18555) 
• Drake & Company (CRD #: 16227) 

Kurta Law Can Help 

If you have worked with Albert Bevilacqua and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.