Chris Jacobi, Ameriprise Broker, Allegedly Sold Unsuitable Stock
Chris Jacobi (CRD# 1648679), a broker registered with Ameriprise Financial Services, recommended an unsuitable investment, according to a recent dispute. MDF Law is investigating the Pensacola, Florida-based financial professional for similar conduct. If you have concerns about your accounts, contact us for a free, confidential consultation.
To learn more about the dispute involving Mr. Jacobi, continue reading this post. The information below is sourced from an October 29, 2024 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record.
Pending Dispute Seeks 6-Figure Damages
On August 23, 2024, an investor lodged a dispute alleging that Mr. Jacobi recommended an unsuitable investment in EBIX stock. The claim, which is still pending, seeks $250,000 in damages.
Firms Denied Past Disputes
The above-described pending dispute is not the only one in Mr. Jacobi’s history. His BrokerCheck profile discloses four other disputes that were either denied or closed by his member firms. Filed between 1998 and 2024, these claims include allegations of unsuitable recommendations and inadequate disclosures. They sought more than $180,000 in cumulative damages before they were denied or closed.
What Is FINRA’s Suitability Standard?
FINRA’s suitability standard is one of the most important investor protections. As outlined FINRA Rule 2111, it means that brokers must recommend investments or strategies that are suitable for a client’s profile. This includes factors like their experience, goals, risk tolerance, financial situation, and more. Under the SEC’s Under Regulation Best Interest, meanwhile, they must “exercise reasonable diligence, care, and skill, to understand the potential risks, rewards, and costs” associated with investments they recommend to their customers.
Chris Jacobi, Ameriprise Broker
Ameriprise Financial Services’ website features a section dedicated to Mr. Jacobi’s practice at the firm. “I am committed to understanding your goals and am here to provide personalized financial advice based on your individual needs,” reads a subsection about his financial advice. “When market conditions change, you can remain confident that the portfolio and plan we build together is designed to factor in market ups and downs.”
FINRA: Broker Based in Pensacola, Florida
Mr. Jacobi launched his career as a broker in 1990. That year, he registered with the Stuart-James Company in Denver, Colorado. Over the following years, he went on to work with firms like Prudential Securities, NBC Securities, and Wachovia Securities. He registered with his current member firm, Ameriprise Financial Services, in 2009. He still works with the firm today, based at its branch office in Pensacola, Florida. With 37 years of experience as a broker under his belt, he has completed five industry exams, including the Series 65 and the Series 24.
MDF Law’s Attorneys Have Recovered More than $100 Million
If you lost money working with Chris Jacobi, you may have options. MDF Law’s experienced team of investor advocates have secured millions in recoveries for our clients. We only receive a fee if you win your case, which you may have a limited window to file. Call us at 800-767-8040 today for a free consultation.