EDWARD ANTHONY TORRES is currently employed as a Broker and/or Investment Adviser at AMERIPRISE FINANCIAL SERVICES, INC. located at 180 N RIVERVIEW DR, STE 160, ANAHEIM, CA, 92808-1228.
EDWARD ANTHONY TORRES has worked at AMERIPRISE FINANCIAL SERVICES, INC. since July 16, 1986
EDWARD ANTHONY TORRES has 10 Disclosure Event(s).
Date: May 01, 2017 Category: Customer Dispute Allegations: The client alleged that the advisor made unsuitable recommendations, mismanaged her Inherited IRA, and did not respond to her inquiries in August, 2015. Damage Amount Requested: $40,291.42
Date: August 24, 2012 Category: Customer Dispute Allegations: THE CLIENTS ALLEGED THE RIVERSOURCE VARIABLE UNIVERSAL LIFE INSURANCE POLICY PURCHASED IN DECEMBER 2000 WAS MISREPRESENTED AND THEY WERE NOT AWARE OF THE SURRENDER CHARGE. THEY ALSO ALLEGED THE INCOME FROM FIVE RIVERSOURCE VARIABLE ANNUITIES PURCHASED IN AUGUST 2004, JULY 2005, AUGUST 2005, FEBRUARY 2005 AND OCTOBER 2006 DID NOT MEET THEIR MONTHLY NEEDS. LASTLY, THEY ALLEGED THE TWO INLAND AMERICAN REAL ESTATE INVESTMENT TRUSTS PURCHASED IN APRIL 2007 WERE NOT SUITABLE. Damage Amount Requested: $178,937.94
Date: May 04, 2012 Category: Customer Dispute Allegations: THE CLIENT ALLEGED THE INLAND WESTERN REIT PURCHASED IN SEPTEMBER 2004 WAS UNSUITABLE. Damage Amount Requested: $313,397.36
Date: June 20, 2011 Category: Customer Dispute Allegations: CLIENT ALLEGED THE VARIABLE ANNUITY SHE PURCHASED IN FEBRUARY 2007 WAS UNSUITABLE. Damage Amount Requested: $89,632.50
Date: May 23, 2008 Category: Customer Dispute Allegations: THE CLIENT ALLEGED A LACK OF DISCLOSURE IN REGARD TO THE 1035 EXCHANGE, THE ASSOCIATED PREMIUM CHARGE AND NEW SURRENDER CHARGE SCHEDULE. THE CLIENT REQUESTED A REFUND OF THE PREMIUM CHARGE, WAIVER OF THE SURRENDER CHARGE AND CANCELLATION OF THE VARIALBE LIFE POLICY. Damage Amount Requested: $18,700.00 Broker Comment: THE FIRM FOUND THE CLIENT RECEIVED PROPER DISCLOSURE OF THE VUL THROUGH VERBAL DISCUSSIONS AND WRITTEN DISCLOSURE.
Date: May 07, 2008 Category: Customer Dispute Allegations: THE CLIENTS ALLEGED THEY WERENOT INFORMED THEIR MONEY WAS BEING USED TO PAY FOR THEIR VARIABLE UNIVERSAL LIFE INSURANCE POLICIES. THEY FURTHER ALLEGED THEY WERE TOLD THEIR INVESTMENTS WOULD NEVER LOSE MONEY. THE POLICIES WERE PURCHASED ON AUGUST 29 AND SEPTEMBER 1, 2000. THEIR MUTUAL FUNDS WERE PURCHASED BETWEEN JULY 12, 2000 AND APRIL 9, 2001. Damage Amount Requested: $5,000.00 Broker Comment: THE FIRM FOUND THE CLIENTS RECEIVED APPROPRIATE DISCLOSURE AND PRODUCT CONTENT AT THE TIME OF PURCHASE AND FOLLOWING THE PURCHASE. THE RECOMMENDATIONS APPEARED TO BE APPROPRIATE AT THE TIME. ADDITIONALLY, SEVERAL REQUESTS WERE MADE TO MEET WITH THE CLIENTS BUT THE CLIENTS DECLINED THE OFFERS. IT APPEARS THE LOSSES IN THE PORTFOLIO WERE THE RESULT OF POOR MARKET CONDITIONS.
Date: August 12, 2004 Category: Customer Dispute Allegations: THE CLIENT ALLEGES I DID NOT DISCLOSE THE DIFFERENCES IN SHARE CLASS, EXPENSES AND FEES, OR BREAKPOINT OPTIONS. Damage Amount Requested: $8,500.00 Broker Comment: THE FIRM FOUND THE CLIENTS SIGNED THE APPLICATIONS AND THE MUTUAL F UND DISCLOSURE FORM. THE CLIENTS STATED THEY RECEIVED PROSPECTUSES BUT DID NOT REVIEW THEM. THE ADVISOR DOCUMENTED DISCUSSING WITH THE CLIENTS HOW MUTUAL FUNDS WORKED, THE BENEFITS, FEATURES AND EXPENSES ASSOCIATED WITH EACH SHARE CLASS.
Date: April 15, 2003 Category: Customer Dispute Allegations: THE CLIENT ALLEGED THAT I DID NOT TAKE ER OUT OF THE MARKET AS IT DECLINED, AND THAT SHE EXPERIENCED LOSSES AS A RESULT. Damage Amount Requested: $15,000.00 Broker Comment: MY DOCUMENTATION ILLUSTRATED FREQUENT COMMUNICATION WITH THE CLIENT, MAKING SEVERAL ADJUSTMENBTS IN HER PORTFOLIO TO PROTECT HER ASSETS. FURTHER, THE CLIENT REFUSED TO PARTICIPATE IN AN INTERVIEW WITH AEFA PERSONNEL, THE PURPOSE OF WHICH WAS TO GATHER AS MUCH INFORMATION AS POSSIBLE.
Date: September 14, 2002 Category: Customer Dispute Allegations: THE CLIENT'S ATTORYNEY ALLEGED I SURRENDERED THE CLIENT'S ANNUITY WITHOUT THE CLIENT'S KNOWLEDGE, CONSENT, OR AUTHORIZATION, WHICH RESULTED IN A TAXABLE EVENT FOR THE EVENT. Damage Amount Requested: $9,200.00 Settlement Amount: $3,826.00 Broker Comment: THE FIRM DETERMINED I DID NOT HAVE REQUIRED WRITTEN AUTHORIZATION TO MAKE A TELEPHONE TRANSACTION ON THE CLIENT'S BEHALF. THE CLIENT ACCEPTED THE FIRM'S OFFER FOR REIMBURSEMENT OF THE TAXES AND SURRENDER CHARGES INCURRED.
Date: January 04, 2001 Category: Customer Dispute Allegations: THE ATTORNEY FOR THIS CLIENT HAS ALLEGED THAT DUE TO INVESTMENT ADVICE I GAVE THIS CLIENT AN INCREASED TAX LIABILITY OF $44,000 WA SINCURRED IN TAX YEAR 1999. Damage Amount Requested: $44,000.00 Broker Comment: MY COMPLIANCE DEPARTMENT FOUND THAT THE CLIENT WAS GIVEN PROPRE DISCLOSURES AND WAS ADVISED NUMEROUS TIMES BY ME TO CONSULT HER TAX ADVISOR REGRDING THE TAX EFFECTS OF SPS REDEMPTIONS PRIOR TO THE REDEMPTIONS TAKING PLACE. MY COMPLIANCE DEPARTMENT FOUND THAT I ACTED IN THE BEST INTEREST OF THE CLIENT AND THAT MY COMMISSIONS WERE LESS WHEN THE CLIENT INVESTED IN ANNUITIES THAN WHEN SHE INVESTED IN SPS.
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for EDWARD ANTHONY TORRES, click here.
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.
How to choose a broker or investment adviser. Learn More