Jeffrey McHale, Broker for Ameriprise Financial Services, Accused of Recommending Unsuitable Investments

McHale allegedly recommended unsuitable investments in pharmaceutical and biotech stocks.

The Sonn Law Group is investigating allegations that Jeffrey McHale recommended unsuitable investments. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Jeffrey McHale (CRD#: 2998580) is currently registered as an investment adviser and broker with Ameriprise Financial Services, where he has been employed since 2015. Previously McHale was registered as an investment adviser and broker with Coburn & Meredith from 2004 until 2015. 

McHale has three disclosures on his BrokerCheck report.

December 2019 Customer Dispute

• Status: Pending
• Allegations: “Claimants allege respondents recommended unsuitable investments including pharmaceutical and biotech stocks while at Ameriprise from 2015-2019. Claimants also allege that their accounts were over-concentrated and certain transactions were marked unsolicited despite being recommended by respondent advisor.”
• Damage Amount Requested: $655,000.00

December 2018 Customer Dispute

• Status: Settled
• Allegations: “Claimant alleges from 2015-2019 respondent recommended unsuitable investments. Specifically, claimant alleges that respondent recommended a high concentration of equity securities, did not recommend bonds and instead recommended low priced low market cap securities. As a result, claimant alleges he suffered damages of at least $180,000 plus interest and costs.”
• Damage Amount Requested: $180,000.00
• Settlement Amount: $75,000.00
• Broker Comment: “Ameriprise chose to settle the matter in order to avoid the costs associated with FINRA arbitration.”

June 2001 Customer Dispute

• Status: Denied
• Allegations: “Client alleged that his request to free-look at a variable annuity contract was not processed on time. No specific damages alleged.”
• Broker Comment: “In order to avoid the cost and uncertainty of further dispute without admitting liability regarding the matter, the insurance company waived the surrender charges.”

Contact Us Today

The Sonn Law Group is currently investigating allegations that Jeffrey McHale made unsuitable investment recommendations. 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.