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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 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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