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I'm Jeff Sonn, an attorney concentrating on securities fraud and consumer class actions. I use this blog to bring attention to regulatory filings involving financial advisors, current events in securities and cases in the financial services industry, and to help investors understand their rights and options for financial recovery. Questions? Contact me online or call anytime at 844-689-5754

Jason Leonard Garofalo, Broker with Ameriprise Financial Services, Named in Customer Dispute Alleging Recommendation of Unsuitable Investments

INVESTORS: Ameriprise Financial Services broker Jason Leonard Garofalo was named in a customer dispute alleging that he recommended unsuitable investment positions including Inventrust and Hospitality Investor’s Trust REITs.

Jason Garofalo

Jason Leonard Garofalo (CRD#:3008935) is registered as a broker and investment adviser with Ameriprise Financial Services, where he has been employed since 2015. Previously, Garofalo was registered as a broker with Tricor Financial from 2007 until 2015.

Garofalo has three disclosures on his BrokerCheck report. 

November 2021 Customer Dispute

Status: Pending

Allegations: Claimant alleges that she was recommended unsuitable investment positions including Inventrust and Hospitality Investor’s Trust REITs.

Damage Amount Requested: $150,000.00

September 2012 Customer Dispute

Status: Award / Judgment

Allegations: Unsuitable investments; negligence; misrepresentations and omissions; violations of the Nevada Securities Act and Regulations thereunder; violations of the FINRA Conduct Rules and NYSE Rules; breach of fiduciary duty/constructive fraud; breach of contract

Damage Amount Requested: $668,000.00

Broker Comment: “The Claimant purchased non-traded REITs multiple times and completed extensive risk disclosure and acknowledgements before each purchase. The panel ordered tricor to pay approximately 26% of requested damages of $688,000. Mr. Garofalo was not named as a respondent. 

April 2012 Financial Event

Status: Final

Type: Compromise

Disposition: Satisfied/Released

If you have any information about Jason Leonard Garofalo that you would like to share or discuss, please call our firm for a confidential consultation. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form. 

 

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