Stanley Robert Cohen of Calabasas California is a stockbroker formerly registered with Ameriprise Financial Services who is the subject of a customer initiated investment related arbitration claim where the customer requested over three hundred sixty-one thousand dollars in damages founded on allegations that Cohen made unsuitable fixed and variable annuity recommendations to the customer and failed to disclose commissions and fees pertaining to annuity investments. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-03346 (Dec. 15, 2017).
FINRA Public Disclosure reveals that Cohen has been identified in four additional customer initiated investment related disputes pertaining to accusations of Cohen’s improper conduct during the time that he was employed with Ameriprise Financial Services. Particularly, on January 6, 2003, a customer initiated investment related written complaint involving Cohen’s conduct was settled for $2,557.26 in damages based upon allegations that Cohen executed unsuitable mutual fund transactions in the customer’s account and neglected to inform the customer about the risks relating to investments.
Then, a customer initiated investment related written complaint pertaining to Cohen’s activities was resolved for $802.38 in damages supported by accusations that Cohen poorly advised the customer regarding mutual funds and variable annuity products, causing the customers to sustain losses in their investment portfolios. Another customer filed an investment related civil action in the Superior Court of Los Angeles on May 17, 2010, alleging elder abuse relating to the customer’s family trust investments.
Thereafter, on June 11, 2012, a customer filed an investment related written complaint regarding Cohen’s activities, in which the customer sought $170,860.07 in damages founded on allegations that Cohen effected inappropriate purchases of a RiverSource variable annuity and RiverSource variable life insurance policy, and made misrepresentations to the customer about Inland American and Inland Western real estate investment trusts.
Cohen’s registration with Ameriprise Financial Services, Inc. was terminated as of December 22, 2017.
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