WARNING! Impending Investigation: LORI COUSINEAU WEAVER and AMERIPRISE FINANCIAL SERVICES | Investigation of Lori Cousineau Weaver (Renton, Washington) and Ameriprise Financial Services | Have you lost money with financial advisor Lori Cousineau Weaver from Renton, Washington? We are continuing our investigation allegations made against Cousineau Weaver. The Washington Division of Securities brought a regulatory complaint against Lori Cousineau Weaver and her former brokerage firm, Ameriprise Financial Services, alleging that she sold millions of dollars of non-traded REITs (real estate investment trusts) to her clients between 2008 and 2015. Washington also alleged that Ameriprise failed to reasonably supervise her conduct. | Lori Cousineau Weaver was alleged to have sold non-traded REITs to her customers. REITs are investments in real estate, and they typically provide regular income. However, non-traded REITs are not suitable for many investors because they are illiquid and cannot be easily converted to cash. Moreover, non-traded REITs tend to have large expenses and commissions as compared to other products, sometimes as high as 15% total. | Washington alleged that Lori Cousineau Weaver earned over $800,000 in commissions from selling non-traded REITs and also earned a $30,000 bonus from Ameriprise. Washington alleged that she recommended many clients to invest in non-traded REITs even though they did not meet Ameriprise’s standards for suitability. Moreover, Cousineau Weaver was alleged to have used inaccurate and inflated net worth and income numbers so that the investors could qualify to invest. Additionally, it was alleged that Cousineau Weaver’s recommendations exceeded Ameriprise’s concentration limits. Many of Cousineau Weaver’s clients were over the age of 70 and were seniors. Washington seeks to suspended and/or fine Lori Cousineau Weaver for this conduct, and they also seek to fine Ameriprise for failing to adequately supervise her. | Lori Cousineau Weaver was a registered representative and financial advisor with Ameriprise Financial Services from 1989 to July 2015. She is now affiliated with UBS Financial Services from July 2015 to the present. Cousineau Weaver operated branch offices in Renton and Sequim, Washington. She has operated her own firms, including Cousineau Weaver & Associates, and Cousineau Weaver Wealth Management. Lori Cousineau Weaver has also been the subject of at least 5 customer complaints, at least 3 of which complain about non-traded REITs. | Broker-dealers like Ameriprise have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers. | Israels & Neuman PLC is a securities and investment fraud law firm with offices in Bellevue, Washington and Denver, Colorado. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in the Seattle area and throughout the Eastside, including in Renton, Kirkland, Bellevue, and Redmond. Attorney David Neuman is licensed to practice law in the State of Washington. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Ameriprise Financial Services, LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.