California  |  Investment Law

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9/09/09, 11:16 pm

Legal Question


About three years ago, I have given a financial advisor with Ameriprise, $100,000. He invested it in various funds, and in the first years the balance increased to about $118,000. When the recession started, I also started loosing money. I wrote him several times and I told him I do not want to see the account under $102,500. Finally the account went to about $85,000 and I decided to close the account to avoid further loses, and because I also needed the money. But I had significant loses.

Can I sue the financial advisor and/or Ameriprise Financial for losing my money, since he could have taken the money and put them in a CD or something else. Thank you.


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