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Investor Allege Ted Boutis Misrepresented Unsuitable Mutual Funds

Nov 21, 2022 Misrepresentation

Ted Boutis (CRD #: 2951760), a broker registered with Ameriprise Financial Services, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on November 7, 2022. If you have questions about his conduct as a broker, read on.

Investor Disputes

On September 6, 2022, several investors filed a dispute alleging that Ted Boutis recommended and misrepresented unsuitable mutual funds. This dispute is currently pending.

On April 7, 2021, multiple investors filed disputes alleging that Ted Boutis recommended unsuitable investments in C share mutual funds and variable annuities, as well as made unsuitable recommendations involving the use of margin. These disputes were settled for a total of $194,500.

In another dispute, filed on September 17, 2020, an investor alleged that Ted Boutis made unsuitable investment recommendations involving C share mutual funds. This dispute was settled for $70,000.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. Investors’ profiles describe their risk tolerance, tax status, and other characteristics.

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

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulative, deceptive, and otherwise unethical means of influencing investors’ decisions. This includes the misrepresentation of an investment’s requirements, limitations, or potential returns.

Background Information

Ted Boutis has passed the following exams:

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

Ted Boutis is a registered broker in 17 states and a registered investment adviser in New York and Texas.

He previously worked for IDS Life Insurance Company (CRD#:6321).

Kurta Law Can Help

If you worked with Ted Boutis 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 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.