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Andrew Hess Involved in Unsuitability Dispute

Andrew Hess (CRD #: 5056901), a broker formerly registered with Ameriprise Financial Services, is involved in a suitability dispute according to his BrokerCheck record, accessed on March 19, 2022.  

According to the allegations filed on January 10, 2022, Andrew Hess failed to properly allocate and diversify his clients’ investment portfolio. The investors further alleged that  Andrew Hess recommended unsuitable alternative investments which included Carey Watermark/Watermark Lodging Trust REIT and FSEP.

The investors are seeking $300,000一the case is still pending.

FINRA Rule 2111

Financial advisors must consider the factors listed below when providing advice to investors. 

  • The investor’s current financial state
  • The investor’s financial goals
  • The investor’s risk tolerance 

According to FINRA Rule 2111, financial advisors may be liable for investor unsuitability claims if they fail to take the factors listed above into account and recommend unsuitable investments. 

If you’ve lost money due to a financial advisor’s bad recommendations, do not hesitate to contact an experienced securities attorney as soon as possible. Kurta Law is a nationally recognized securities law firm with over 25 years of experience litigating securities fraud cases.

Background Information

Andrew Hess has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Besides Ameriprise Financial Services, Andrew Hess has not worked with any other firm.

Kurta Law Can Help

If you have been victimized after working with Andrew Hess, don’t hesitate to contact us today 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 and 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.

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