ALAN HARUO KODAMA is currently employed as a Broker and/or Investment Adviser at AMERIPRISE FINANCIAL SERVICES, INC. located at 127 CENTRAL AVE, STE 1775, WAILUKU, HI, 96793.
ALAN HARUO KODAMA has worked at AMERIPRISE FINANCIAL SERVICES, INC. since July 22, 1987
Disclosure History
ALAN HARUO KODAMA has 3 Disclosure Event(s).
Date: April 28, 2005 Category: Customer Dispute Allegations: THE CLIENTS ALLEGE THE ADVISOR RECOMMENDED THE PURCHASE OF A VARIABLE SECOND TO DIE POLICY THAT WAS NO VALUE TO THEM SINCE THEY NEED CASH FLOW NOW. THE CLIENTS ALLEGE NOT BEING PROVIDED CLEAR DISCLOSURE REGARDING MANAGMENET FEES. Damage Amount Requested: $5,000.00 Broker Comment: THE FIRM REVIEW FOUND THAT THE VARIABLE SECOND-TO-DIE POLICY WAS A SUITABLE RECOMMENDATION BASED ON THE CLIENTS STATED GOALS AND OBJECTIVES. THE CLIENTS WERE PROVIDED CLEAR DISCLOSURE REGARDING THE MANAGEMENT FEES, AND THE FEES HAVE APPEARED ON FOUR OF THEIR FINANCIAL STATEMENTS SINCE JANUARY 2003.
Date: January 05, 2004 Category: Customer Dispute Allegations: THE CLIENTS ALLEGED THAT I PROVIDED UNSUITABLE INVESTMENT ADVICE TO THEM. AS A RESULT, THEY CLAIMED TO HAVE INCURRED SUBSTANTIAL MARKET LOSSES IN THEIR INVESTMENT PORTFOLIO. Damage Amount Requested: $200,000.00 Broker Comment: IT WAS DETERMINED THAT I PROVIDED THE CLIENTS WITH APPROPRIATE INVESTMENT ADVICE FOR THEIR FINANCIAL SITUATION AND ACTED APPROPRIATELY WITH REGARD TO THEIR INVESTMENT PORTFOLIO.
Date: September 10, 2003 Category: Customer Dispute Allegations: THE CLIENTS ALLEGED THE ADVISOR RECOMMENDED VARIALBE LIFE INSURANCE POLICIES IN 1998 AND 1999 THAT WERE INAPPROPRIATE AND TOO EXPENSIVE. THEY REQUESTED REIMBURSEMENT FOR COMMISSIONS EARNED BY THE ADVISOR FROM THE SALES. THE CLIENTS SURRENDERED ONE OF THE POLICIES IN JUNE 2003 AND TRANSFERRED THE PROCEEDS TO AN AXP MUTUAL FUND. THEY CLAIMED THEY SHOULD NOT HAVE PAID A MUTUAL FUND SALES LOAD AS A RESULT OF A TRANSFER BETWEEN AXP PRODUCTS. Damage Amount Requested: $5,000.00 Broker Comment: THE FIRM FOUND THE LIFE RECOMMENDATIONS WERE BASED ON A COMPREHENSIVE ASSET ALLOCATION. THE CLIENTS PROVIDED SIGNATURES APPROVING THE SALE. REGARDING THE SALES CHARGE ON THE MUTUAL FUND, IT WAS ASSESSED APPROPRIATELY BECAUSE THE FUNDS DID NOT MOVE FROM MUTUAL FUND TO MUTUAL FUND. WE TOOK NO FURTHER ACTION AND THE CLIENTS RECEIVED THE BENEFIT PROVIDED BY THE CLASS ACTION SETTLEMENT.
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