On September 8, 2020 Ameriprise Financial Services terminated ex broker Maria Elva Alvarez, also known as Elva Alvarez, for allegedly violating company policies related to the custody and transfer of client funds according to her FINRA Brokercheck page, under review by attorney Alan Rosca.
Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm is investigating circumstances surrounding the termination of Maria Alvarez on allegations of violating company policies. Investors who are concerned about their investments with ex broker Maria Alvarez are encouraged to contact attorney Alan Rosca for a free consultation or discussion of potential recovery options, or to provide useful information. Call 888-998-050, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Maria Alvarez Was Registered with FINRA for 19 Years and Switched Employers Three Times
According to Maria Alvarez’s FINRA Brokercheck page, she joined the securities industry in March 2000. She was employed with Chase Investment Services located in McAllen, Texas from March 2000 until October 2007. Alvarez voluntarily resigned from Chase Investment after she was under internal review for allegedly altering documents.
Alvarez started working for Investment Professionals located in McAllen, Texas from May 2008 until September 2018. She then switched to Ameriprise Financial Services in June 2018 and remained there until she was terminated for allegedly violating company policies in September 2020.
Investors who are concerned they may have suffered a loss with ex broker Maria Alvarez are encouraged to contact an investor rights attorney at the Rosca Scarlato LLC law firm. Investor rights attorney Alan Rosca and his colleagues have extensive experience representing investors who lose money as a result of broker misconduct. Call 888-998-0530, send an email to arosca@rscounsel.law, or fill out the contact form on this webpage for a free consultation or discussion of potential recovery options.
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Maria Alvarez Was the Subject of Multiple Customer Dispute Disclosures
Between 2008 and 2012, Alvarez was the subject of at least ten customer dispute disclosures with settlements ranging from $2,000 to $41,000, surrounding allegations related to variable annuities, according to her FINRA Brokercheck page.
More recently, in July 2020, a customer filed a dispute alleging his advisor solicited and recommended an outside investment of $500,000 in “diesel” and they have not received any earnings from it nor been repaid $500,000. The customer also alleges they incurred tax liabilities of at least $200,000 in connection with the investment. The customer is requesting $700,000 for alleged negligence, negligent supervision, negligent hiring/retention, breach of fiduciary duty, and joint venture/joint enterprise liability.
In March 2012, a customer filed a dispute alleging misrepresentation regarding a variable annuity investment. The customer requested $182,000 for the alleged damages and received a settlement of $19,989.47
A customer filed a dispute in April 2009 alleging subsequent purchases were not principal guaranteed as the initial purchase. The customer requested $36,318.95 for the alleged damages and received a settlement of $24,844.08. Another customer filed a dispute in April 2009 alleging misrepresentation relating to a variable annuity investment. The customer requested $23,636 for the alleged damages and received a settlement of $22,636.39.
Two customers filed disputes involving Alvarez in November 2008, one customer alleging misrepresentation of a variable annuity and the second customer alleging a contribution to an offshore investment contract did not contain a guarantee feature. One customer received a settlement of $10,784.32 and the second customer received a settlement of $41,568.39.
In October 2008, a customer filed a dispute alleging misrepresentation related to a variable annuity investment. The customer requested $19,000 in alleged damages and received a settlement of $4,937.44.
Four customers file dispute disclosures involving Maria Alvarez in June 2008 alleging misrepresentation of variable annuities. The four customers received settlements ranging from $2,300 to $28,000 according to her FINRA Brokercheck page.
Potential Recovery Options for Maria Alvarez Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or broker misconduct and are currently investigating ex broker Maria Alvarez’s alleged circumstances that purportedly led to Alvarez’s termination from Ameriprise Financial.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Maria Alvarez’s alleged broker misconduct may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.