Hema Joshi (also known as Hema Jerath) of Flemington New Jersey a stockbroker currently registered with Ameriprise Financial Services, Inc. is the subject of a customer initiated investment related written complaint on April 3, 2017 where the customer sought $24,339.85 in damages based upon accusations that Joshi (1) placed the customer in an unsuitable variable life insurance policy (2) withdrew money from the customer’s account without the customer’s permission and (3) modified the customer’s policy without the customer’s authorization.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Joshi has been identified in four more customer initiated investment related disputes containing allegations of Joshi’s violative conduct while associated with Ameriprise Financial Services Inc. and American Express Financial Advisors. Particularly, on April 28, 2003, a customer filed an investment related complaint regarding Joshi’s activities in which the customer requested $15,654.00 in damages supported by accusations that the customer’s variable life insurance policy had lapsed due to the mismanagement of the policy, and the customer was placed in mutual funds that failed to be suitable for the customer given the customer’s risk tolerance.
On September 28, 2004, another customer filed an investment related complaint involving Joshi’s conduct where the customer sought $35,980.24 in damages founded on allegations that Joshi negligently handled the customer’s financial plan and failed to inform the customer about the risks pertaining to mutual funds selected for the customer’s annuities. Thereafter, a customer initiated investment related arbitration claim concerning Joshi’s conduct was settled for $6,200.00 in damages based upon accusations of mismanagement of the customer’s investment account, and unsuitable recommendations having been made to the customer with respect to equity funds, a managed account, and variable annuity products. National Association of Securities Dealers (NASD) Arbitration No. 06-02540 (Aug. 28, 2007).
Moreover, on April 3, 2017, a customer filed an investment related complaint concerning Joshi’s activities in which the customer requested $24,339.85 in damages supported by allegations of false statements, misrepresentations, and elder abuse in reference to a variable life insurance policy sold to the customer.
Joshi has been employed by Ameriprise Financial Services, Inc. since January 17, 1995.
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