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Robert Bortz Involved in a Variable Annuity Investor Dispute

Robert Bortz (CRD #: 1018691), a broker registered with Ameriprise Financial Services, is involved in a dispute over a variable annuity, according to his BrokerCheck record, accessed on September 21, 2021. Investors may have engaged his services through Paramount Financial Services.

On July 15, 2021, an investor alleged that Robert Bortz did not explain the contract fees for a variable annuity sold in 2020. Variable annuities are complex investments that often have so many fees they do not offer a real benefit to the investor.

There is another dispute that involves a variable annuity on Robert Bortz’s record. On July 25, 2014, an investor alleged that he purchased four variable annuities based on Robert Bortz’s representation that he would receive a minimum 6% guaranteed return. The investor sought a refund on the surrender charges, but the firm denied the dispute. “Denials” simply mean the firm denies their investor engaged in misconduct – they do not indicate that FINRA has reviewed the dispute. Investors can still pursue arbitration and recover their losses following a denial.

Robert Bortz Background Information

Robert Bortz has passed the following exams:

  • Series 65 Uniform Combined State Law Examination
  • Series 63 Uniform Securities Agent State Law Examination
  • Securities Industry Essentials Examination
  • Series 7 General Securities Representative Examination
  • Series 22 Direct Participation Programs Representative Examination
  • Series 6 Investment Company Products/ Variable Contracts Representative Examination

He is a registered broker in 27 states and is a registered investment adviser in Texas and Wisconsin.

Robert Bortz has worked with the following firms:

  • AXA Advisors (CRD #: 6627)
  • Lincoln Financial Advisors Corporation (CRD #: 3978)
  • The Lincoln National Life Insurance Company (CRD #: 2580)
  • Cigna Financial Advisors (CRD #: 145)

Kurta Law Can Help

If you worked with Robert Bortz and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email