Sof New York New York a stockbroker formerly registered with Ameriprise Financial Services Inc. is referenced in a customer initiated investment related written complaint on January 2, 2018 where the customer sought $97,140.00 in damages based upon allegations that the customer was placed into unsuitable annuity products between 2012 and 2016.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Caruso is referenced in three additional customer initiated investment related disputes containing accusations of his violative conduct while he was associated with Ameriprise Financial Services Inc. Specifically, on June 22, 2016, a customer initiated investment related complaint concerning Caruso’s activities was settled for $92,822.25 in damages supported by allegations that the customer was placed into RAVA 5 Advantage variable annuity without being provided important information about the terms and conditions of the annuity.
Then, on July 15, 2016, a customer filed an investment related complaint regarding Caruso’s activities in which the customer requested $45,000.00 in damages founded on accusations that the customer was improperly transitioned from a fee based account to an account which exposed the customer to inappropriate commissions. Additionally, on January 24, 2017, a customer initiated investment related complaint involving Caruso’s conduct was resolved for $135,000.00 in damages based upon allegations that the customer’s individual retirement account assets were inappropriately directed into variable annuity products; and options had been traded in the customer’s account without the customer’s authorization.
Caruso was discharged by Ameriprise Financial on May 27, 2016 supported by accusations that he seemingly effected trades in a customer’s account on a discretionary basis without having authorization to do so; and Caruso placed options trades in violation of firm policy.
