CHARLES ALVANOS is currently employed as a Broker and/or Investment Adviser at AMERIPRISE FINANCIAL SERVICES, INC. located at 1349 SPRINGFIELD ST, FEEDING HILLS, MA, 01030.
CHARLES ALVANOS has worked at AMERIPRISE FINANCIAL SERVICES, INC. since July 03, 1984
CHARLES ALVANOS has 2 Disclosure Event(s).
Date: July 29, 2002 Category: Customer Dispute Allegations: THE CLIENT ALLEGED HE HAD NO NEED FOR THE LIFE INSURANCE POLICY HE HAD PURCHASED IN SEPTEMBER 1997, AS HE HAD NEVER BEEN MARRIED AND HAD NO DEPENDENT CHILDREN. THE POLICY HAD A DEATH BENEFIT OF $300000.00. HE FURTHER ALLEGED HE WAS NEVER INFORMED WHAT WOULD HAPPEN T OTHE POLICY IF THE RETURN WAS BELOW THE 12% THAT HAD BEEN ILLUSTRATED. HE REQUESTED A REFUND OF ALL PREMIUMS PAID. THE AMOUNT OF PREMIUMS PAID LESS THE CURRENT CASH SURRENDER VALUE IS $49756.00. Damage Amount Requested: $49,756.00 Broker Comment: THE FIRM'S EVIEW OF THE COMPLAINT DETERMINED THAT ALTHOUGH THE CLIENT WAS NOT MARRIED AND HAD NO DEPENDANT CHILDREN, HE STILL A NEED FOR LIFE INSURANCE BASED ON HIS ESTATE PLAN. THE CLIENT RECEIVED FULL DISCLOSURE OF THE FEATURES OF THE POLICY, INCLUDING THE REQUIRED PREMIUMS NEEDED TO KEEP TE POLICY IN FORCE. THE FIRM DECLINED THE CLIENT'S REQUEST FOR REIMBURSEMENT. THE ALLEGATIONS MADE BY THE CLIENT WERE COVERED BY A CLASS ACTION LAWSUIT INVOLVING IDS LIFE INSURANCE COMPANY.
Date: July 11, 2001 Category: Customer Dispute Allegations: THE CLIENTS ALLEGED THAT I MISHANDLED THIER INVESTMENTS BY NOT MONITORING THE ACCOUNTS, NOR BY PROVIDING THEM WITH ANY PROFESSIONAL SERVICES. Damage Amount Requested: $16,000.00 Broker Comment: THE REVIEW FOUND THAT THE CLIENTS RECEIVED FULL AND FAIR DISCLOSURE REGARDING THE RISKS AND CHARGES ASSOCIATED WITH THEIR INVESTMENTS. IN ADDITION, THE CLIENTS RECEIVED MONTHLY STATEMENTS AS A MEANS TO MONITOR THIER OWN INVESTMENTS.
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