Brian Timmer Allegedly Made Unsuitable Recommendation of Bond Mutual Funds
Brian Timmer (CRD #: 1816017), a broker registered with Ameriprise Financial Services, allegedly recommended unsuitable mutual funds, according to his BrokerCheck record, accessed on January 23, 2023. Read on if you have questions about his alleged conduct as a broker.
On November 30, 2022, multiple investors filed a dispute alleging that Brian Timmer made an unsuitable recommendation to invest the proceeds from the sale of their rental property into bond mutual funds. The clients alleged that this recommendation did not suit their investment objective of preserving their principal.
They seek $72,848.34 in damages in this pending dispute.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the information contained in the investor’s profile, including the following investor characteristics:
- Financial goals
- Risk tolerance
- Time horizon (i.e., how long the investment will be held)
- Investing experience
- Tax status
Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.
Brian Timmer has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Brian Timmer is a registered broker in 23 states and the District of Columbia. He is also a registered investment adviser in Michigan and Texas.
He previously worked for IDS Life Insurance Company (CRD#:6321).
Kurta Law Can Help
If you worked with Brian Timmer and you have concerns about your investments, please contact us today at 877-600-0098 or email@example.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want 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.