Did You Lose Money Because of Malcolm Norris?
Filed: January 18, 2024
Malcolm Norris has been the subject of four (4) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Malcolm Lynn Norris.
Who Is Malcolm Lynn Norris?
- Advisor Name: Malcolm Lynn Norris
- Aliases: Malcolm Norris
- CRD: 349264
- Location: North, South Carolina
- Current Employer: Currently Not Registered
- Previous Firms: Ameriprise Financial Services, LLC, IDS Life Insurance Company, and IDS Financial Services Inc.
- Number of Known Customer Complaints: 4
- Can Malcolm Norris Be Sued: Yes, in Private Arbitration
- Can Malcolm Norris’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $143,220.62
- Highest Settlement: $50,000
If you have suffered investment losses by Malcolm Norris, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Malcolm Norris For Broker Misconduct
As of this publication date, Malcolm Norris has been the subject of 4 customer disputes. Let’s review them below.
In May 2020, a complaint was filed against or in reference to Malcolm Norris by multiple customers of Ameriprise Financial Services, LLC alleging that Mr. Norris recommended variable annuities, non-traded REITs and non-traded BDC’s and the investments were unsuitable for them. The claimants also allege that Ameriprise failed to supervise the Claimants’ advisors. The clients’ causes of action are breach of fiduciary duty and negligence. On January 25, 2021, Mr. Norris settled the claim for $50,000, and some or all of this amount may have been paid by Mr. Norris’s employer and/or insurance carrier.
In November 2016, a complaint was filed against or in reference to Malcolm Norris by a customer of Ameriprise Financial Services, LLC alleging that the May 2013 purchase of a business development company was unsuitable and that the illiquid nature and associated risks were not disclosed. Per the customer, he/she lost over $143,220.62 because of Mr. Norris’s actions.
In August 2016, a complaint was filed against or in reference to Malcolm Norris by a customer of Ameriprise Financial Services, LLC alleging that the illiquid nature of Corporate Capital Trust was not disclosed at the time of her May 2013 purchase. Per the customer, he/she lost over $59,048.84 because of Mr. Norris’s actions.
In July 2015, a complaint was filed against or in reference to Malcolm Norris by a customer of Ameriprise Financial Services, LLC alleging that the client’s April 2007 purchase of CNL lifestyle properties was misrepresented. Per the customer, he/she lost over $45,711.40 because of Mr. Norris’s actions.
How To File A Claim Against Malcolm Norris (previously with Ameriprise Financial Services, LLC, IDS Life Insurance Company, and IDS Financial Services Inc.) To Get Your Money Back
If you have questions about Malcolm Norris, Ameriprise Financial Services, LLC, IDS Life Insurance Company, IDS Financial Services Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.
