Scott Hagenbach is the Subject of a Suitability Dispute

Scott Hagenbach (CRD #: 4623725) is a financial advisor registered with Ameriprise Financial Services, LLC, who is the subject of a customer complaint related to distribution recommendations. This disclosure appears on his BrokerCheck record, accessed on December 20, 2025. Keep reading if you have questions regarding his alleged conduct.

Investor Allegations

On September 30, 2025, Scott Hagenbach allegedly made unsuitable recommendations involving distributions from a variable annuity in 2023 and 2024 that negatively impacted future earnings and income potential. The dispute was denied. 

Investors should be aware, however, that firms can deny disputes without an external review. It’s still possible to recover damages following a denial, and investors may want to pursue FINRA arbitration.

High Standards of Commercial Honor 

FINRA Rule 2010 requires brokers to uphold high standards of commercial honor and just and equitable principles of trade. Unsuitable recommendations violate this rule. 

Unsuitable Investments

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investment will be held)
• Investing experience
• Tax status

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

Rule 2330

FINRA Rule 2330 requires brokers to have a reasonable basis to believe that their recommendation of a variable annuity purchase or exchange will be suitable for investors. 

Background Information

Scott Hagenbach has passed the following exams:

• SIE — Securities Industry Essentials Examination

• Series 7 General Securities Representative Examination

• Series 66 Uniform Combined State Law Examination

Scott Hagenbach is a registered broker in Alaska, Arizona, Arkansas, California, Colorado, Delaware, District of Columbia, Florida, Georgia, Hawaii, Illinois, Indiana, Maryland, Massachusetts, Michigan, Missouri, New Hampshire, New York, North Carolina, Ohio, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin. 

He is also registered as an investment adviser in Michigan and Texas.

Scott Hagenbach has registered with the following firms:

• Ameriprise Financial Services, LLC (CRD#: 6363)
• Thrivent Investment Management Inc. (CRD#: 18387)

Kurta Law Can Help 

If you have worked with Scott Hagenbach and have concerns about your investments, 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 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.