You should be very careful when looking for people to help you with your investments. If you choose the wrong choice, you could lose all of your money. So, you should stay away from advisors who seem sketchy at all costs. Kimberlee Orth of Ameriprise is one of these types of advisors.
At first look, Kimberlee seems to be a well-known financial advisor with years of experience in the field. But her company’s terms and conditions have many predatory phrases that trap her clients into bad deals.
In this review of Kimberlee Orth, you’ll learn about these problems and the legal issues she has had with her clients.
Who is Kimberlee Orth?
Kimberlee Orth works for Ameriprise Financial Services in Delaware as a financial planner. Her office is at 3513 Concord Pike, Suite 1000, Wilmington, DE 19803, and her phone number is 302-475-5105.
You can go to her office during the week between 8 AM and 6 PM, but I wouldn’t recommend it.
Kimberlee is a CFP and CKA-certified private wealth planner. She is in charge of the Orth Financial Group and has won many awards and praise from the business world.
But many people put too much weight on these awards and don’t pay attention to the small print. Kimberlee is one of the advisors who tell their clients about their successes to make them forget about the shady parts of their terms and conditions.
She says that she can help her clients with their money by using the Confident Retirement method. Some of the things her company does are:
- Investment recommendations
- Comprehensive financial help
- Annuity solutions
- Solutions for handling cash
- Progress talks
- Insurance solutions, and so on.
In the next part of this review, I’ll talk about the most important things she said in her statements. I also told you about the court problems she has had with her clients in the past. She will tell you about her accomplishments, but she won’t tell you the following things for sure:
Kimberlee Orth- Ameriprise has had legal problems and made some questionable claims.
Kimberlee Orth’s clients are fighting with her over more than $500,000
Check their FINRA BrokerCheck record when you start looking for a financial advisor. It’s a huge database where you can find out about their work history, state licenses, tests they’ve passed, and any problems they’ve had with clients or authorities.
Kimberlee Orth’s FINRA BrokerCheck profile says that she has been in two legal disputes. Skilled advisors rarely have more than one dispute in their lives, so having two is a huge red flag.
In 2005, there were the first fights. Here, the client said that Kimberlee gave her bad advice that didn’t match her risk tolerance, which caused her to lose money. The client asked for $53,000 in compensation.
But the company said the claims were false and that the investments were good.
In 2016, Kimberlee got into a second fight. Here, the client said that the variable life insurance policy they bought in February 1995 wasn’t what they were told it was: an investment for their future. They asked for $450,000 in compensation.
The company also refuted this claim without giving a reason.
Keep in mind that it’s very hard for investors to win these kinds of fights. This is because experts like Orth make you sign a bunch of waivers before you start working with them. These releases let them off the hook and help them.
Kimberlee isn’t the only advisor who lies to get away with it by using this bad trick. Renee Fourcade UBS is another person who used shady ways to avoid taking the blame.
She did this to keep from having to pay more than $40,000 in different lawsuits.
Putting clients in too much danger
Kimberlee Orth’s disclosures show that she gets paid based on how well she does her job. Because putting you in needless danger can help her charge more, this fee structure gives her the incentive to do so.
Research shows that investments with this kind of fee arrangement give their investors less money back. Also, if your advisor recommends high-risk tactics and you lose money because of them, you can’t blame your advisor.
On the other hand, if you use these tactics and get any money back, your advisor can charge you a lot. Simply put, it’s a bad deal for anyone who wants to spend.
Commission for selling insurance products
Selling insurance goods brings in a lot of money for Kimberlee. When your advisor gets paid fees for selling insurance, they have a reason to suggest more expensive plans.
Most of the time, they tell their clients to buy insurance goods that they don’t need. The fees for these insurance products that you don’t need can add a lot to your costs and make things very hard.
If your advisor gets paid by commissions for selling insurance goods, you should be very careful. One of them is Kimberlee.
There are too many warning signs about Kimberlee Orth to count. First, you shouldn’t ignore the fact that she has been in court with her clients before. Then, her disclosures have many clauses that put her clients in tough situations.
All of this says that you should avoid working with her and find a different advisor in Delaware. There are a lot of choices on the market, which is good.
Kimberlee Orth’s clients have fought with her in court a lot in the past. Her recent disclosures also have several troublesome parts. All of this says that you shouldn’t work with this Ameriprise professional and should find someone else.
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