Richard Kubiak Allegedly Recommended Unsuitable Investments

Richard Kubiak (CRD #: 2856073), a broker registered with Ameriprise Financial Services, is the subject of a multi-million-dollar investor dispute. This is according to his BrokerCheck record, accessed on August 1, 2025. Keep reading if you have questions regarding his conduct as a broker. 

Investor Allegations 

On March 28, 2024, an investor alleged that Richard Kubiak recommended unsuitable annuities and illiquid real estate investments. 

The investor is seeking $6,075,978. 

High Standards of Commercial Honor

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investors’ profiles contain information about their tax status, risk tolerance, and financial goals.

• High-risk investments are more likely to lose money.
• Illiquid investments are difficult to sell quickly and tend to incur high fees for investors who try to sell them too early.
• Quantitatively unsuitable trades, which means that the broker executed an excessive number of trades.

Investors who rely on their brokers for investment recommendations may be able to recover their losses by seeking out FINRA arbitration.

Background Information 

Richard Kubiak 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 26 states and is a registered investment adviser in New York and Texas. 

Richard Kubiak has registered with the following firms: 

• Ameriprise Financial Services (CRD #: 6363)
• IDS Life Insurance Company (CRD #: 6321) 

Kurta Law Can Help

If you worked with Richard Kubiak and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.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 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.