GEORGE TOKUO MURAKAMI is currently employed as a Broker and/or Investment Adviser at AMERIPRISE FINANCIAL SERVICES, INC. located at 745 Fort Street Ste 1400, Honolulu, HI, 96813.
GEORGE TOKUO MURAKAMI has worked at AMERIPRISE FINANCIAL SERVICES, INC. since August 08, 1984
Disclosure History
GEORGE TOKUO MURAKAMI has 3 Disclosure Event(s).
Date: January 04, 2005 Category: Customer Dispute Allegations: CLIENTS COMPLAINED THROUGH THE STATE OF HAWAII THAT THE VARIABLE INSURANCE POLICIES THEY PURCHASED IN JANUARY 2000 WERE UNSUITABLE GIVEN THAT THEY ARE NOT PAID UP LIKE THEY WERE CLAIMED THEY WERE LED TO BELIEVE AT THIS POINT. THEY ALSO QUESTIONED THE WHEREABOUTS OF A $5000 REDEMPTION FROM ONE OF THEIR MUTUAL FUNDS. Damage Amount Requested: $22,849.58 Broker Comment: THE FRIM FOUND THE LIFE INSURANCE POLICIES WERE SUITABLE GIVEN THE CLIENTS GOALS AND OBJECTIVES. FURTHER, THE CLIENTS RECEIVED FULL DISCLOSURE AS EVIDENCED BY THEIR SIGNATURES ON THE APPLICATIONS. THE $5,000 REDEMPTION FROM ONE OF THEIR MUTUAL FUNDS WAS PLACED IN ONE OF THEIR WRAP ACCOUNTS, PER THEIR REQUEST.
Date: April 04, 2003 Category: Customer Dispute Allegations: CLIENTS ALLGED THAT BEGINNING IN FEBRUARY 2000 THEIR INVESTMENTS WITHA EFA SUFFERED MARKET LOSSES OF $400000.00 AS A RESULT OF UNSUITABLE INVESTMENT RECOMMENDAITONS MADE BY THEIR ADVISOR AND THEY ALLEGE CLAIMS OF RESPONDENT'S FAILURE TO SUPERVISE, BREACHES OF FIDUCIARY DUTY AND CONTACT, MISREPRESENTATION AND FRAUD. Damage Amount Requested: $400,000.00 Settlement Amount: $250,000.00 Broker Comment: AEFA SETTLED THIS MATTER FOR $250,000.00 IN ORDER TO AVOID COSTS ASSOCIATED WITH ABITRATION AND I CONTRIBUTED NOTHING TO SETTLEMENT AMOUNT.
Date: October 22, 2001 Category: Customer Dispute Allegations: THE CLIENTS HAVE ALLEGED THAT I ADVISED THEM TO INVEST IN UNSUITABLE INVESTMENTS AND DUE TO MY ADVICE AND THE WERVICE I PROVIDED TO THEM, THEIR PORTFOLIO INCURRED SERIOUS LOSSES. Damage Amount Requested: $425,000.00 Broker Comment: MY COMPLIANCE DEPARTMENT REVIEWED THIS MATTER AND FOUND NO FAULT IN MY RECOMMENDATIONS OR ACTIONS REGARDING THESE CLIENTS. IT WAS FOUND THAT THE CLIENTS RECEIVED FULL AND FAIR DISCLOSURES FOR THE INVESTMENTS THEY PURCHASED AND THAT THE RECOMMENDATIONS MADE FOR THE CLIENTS WERE BASED ON THE INVESTMENT GOALS, OBJECTIVES, TIME FRAME AND RISK TOLERANCE STATED BY THE CLIENTS.
More Information
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