Ashlie Kaess Allegedly Recommended an Unsuitable Variable Annuity

Ashlie Kaess (CRD #: 4211691), a broker registered with Ameriprise Financial Services, is the subject of an investor dispute. This is according to her BrokerCheck record, accessed on September 6, 2024. Keep reading if you have questions regarding her alleged conduct. 

Investor Allegations 

On June 8, 2024, an investor alleged that Ashlie Kaess recommended an unsuitable RiverSource RAVA 5 variable annuity. The variable annuity was allegedly unsuitable based on the investor’s financial goals, risk tolerance, and age at the time of purchase. The dispute was denied, but firms can deny disputes without any external review. Investors can still recover losses following a denial. 

What is an Unsuitable Investment? 

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. 

Rule 2111 also requires brokers to consider the following investor characteristics: 

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may recover their losses by pursuing FINRA arbitration.

Background Information 

Ashlie Kaess has passed the following exams: 

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

She is a registered broker in 11 states and D.C. and is a registered investment advisor in Minnesota and Texas. 

During her 24 years of experience, Ashlie Kaess has registered with two firms: Ameriprise Financial Services (CRD #: 6363) and IDS Life Insurance Company (CRD #: 6321). 

Kurta Law Can Help 

If you worked with Ashlie Kaess and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.