In a recent case that has caught the attention of investors and financial advisors alike, a client has lodged a complaint against her financial advisor, Eric Perschke, who is currently associated with AMERIPRISE FINANCIAL SERVICES, LLC (CRD 6363). The dispute, which is still pending, alleges that Perschke did not act according to the client’s instructions regarding dividend reinvestment and stock purchases. The client has also accused him of charging excessive fees and making poor investment recommendations.
The Allegations Against Eric Perschke
The client claims that between 2009 and 2023, Perschke failed to follow her instructions concerning dividend reinvestment and stock purchases. This alleged disregard for the client’s instructions has resulted in financial losses, leading to the dispute. The client also alleges that Perschke made poor investment recommendations, particularly in the equity-OTC equity listed (common & preferred stock) sector. Furthermore, she accuses him of charging excessive fees for his services.
- Failure to follow dividend reinvestment instructions: The client alleges that Perschke did not reinvest her dividends as per her instructions.
- Poor investment recommendations: The client claims that the investments recommended by Perschke did not perform as expected, leading to financial losses.
- Excessive fees: The client alleges that Perschke charged her excessive fees for his services.
- Failure to follow stock purchase instructions: According to the client, Perschke did not follow her instructions regarding stock purchases, resulting in financial losses.
Investors Recovering Losses with FINRA Arbitration
For investors who have experienced similar issues, FINRA arbitration can be an effective way to recover losses. The Financial Industry Regulatory Authority (FINRA) operates the largest securities dispute resolution forum in the United States and has helped countless investors recover losses due to broker misconduct.
Through FINRA arbitration, investors can file a claim against their broker or brokerage firm. If the claim is successful, the investor may be awarded damages to compensate for their financial losses. It’s important to note that while FINRA arbitration can be a powerful tool for investors, it’s also a complex process that requires a thorough understanding of securities law. Therefore, investors considering this route should seek the advice of an experienced securities arbitration attorney.
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Given the serious allegations against Eric Perschke and AMERIPRISE FINANCIAL SERVICES, LLC, this case serves as a reminder of the importance of carefully monitoring your investments and understanding the fees associated with your accounts. If you believe you have been a victim of broker misconduct, consider exploring your options for recovery through FINRA arbitration.