It can be very hard to find a good business advisor. But if you know which advisors you should stay away from, you can cut down your search and speed up the process. You should not work with Thais Piotrowski Ameriprise in Florida.
You should avoid her and her company after reading this review, which will tell you about her predatory practices and history:
Who Is Thais Piotrowski Ameriprise?
The financial planner Thais Piotrowski Ameriprise is based in Boca Raton, Florida. Her office is at 1875 Corporate Blvd NW Ste 210, Boca Raton, FL 33431, US, and the number to call is 561-952-0664.
The Thais D. Piotrowski & Associates group is run by Thais Piotrowski. She has certificates from CFP and CRPC. Thais says she takes the time to learn what’s important to her clients so she can give them the help that’s right for them. She also says that she gives personalized help, meets with regulators, and gives financial advice one-on-one.
Some of the services this company offers are investment advisory, annuity, cash management, insurance, full financial help, planning for retirement, tax planning strategies, planning for multiple generations, and progress meetings.
At first glance, Thais Piotrowski Ameriprise looks like a trustworthy financial advisor. But she has put in her statements a lot of things that let her take advantage of her clients.
In the next part of my study, I’ll tell you more about these rules.
Why you should stay away from Thais Piotrowski?
Multiple Complaints from Clients
In the course of her work, Thais Piotrowski has had two clients file legal complaints against her. In 2009, there was the first fight. In this case, the client said that she bought an unapproved mutual fund in February 2009, which cost them $7,319. They asked for $7,319 in compensation.
But the company said the claim was false because the client had approved the buy.
In 2013, there was a second fight. In this case, the client asked FINRA to help settle the dispute. Here, she said that Thais sold her an RVS annuity that wasn’t right for her. She also said that her request for a partial surrender was denied and finally handled in a way that lowered the guarantee in the policy, even though she had bought extra riders for the policy to stop that from happening.
The lawsuit didn’t say how much money was lost. But, just like the last time, Thais’s company said no to FINRA mediation. Still, the report doesn’t say what the company did in response to the claims.
It’s not easy for the investment to win in these kinds of situations. That’s because advisors like Thais Piotrowski make you sign a bunch of waivers that let them off the hook for anything.
Charging 12b-1
Thais Piotrowski and the company she works for sell items with 12b-1 fees. This is a fee for a promotion that goes directly to the advisor. This fee is paid to experts by companies for recommending certain investments.
Some investors might think that investments with this fee must do better than investments without it. They would be wrong, though.
The SEC did a thorough study to compare the results of investments with 12b-1 fees and investments without these fees. No change was found. The study found that investments with a 12b-1 fee have a lower return on investment (ROI) than investments without this fee. This is because the cost of investing in these kinds of assets is much higher.
There are more red flags about the 12b-1 fee.
It’s a percentage fee, so how much you have to pay depends on how big your portfolio is. Because of this, this fee hurts investors with big portfolios the most. It gets bigger over time, so it’s not good for portfolios that are focused on growth and gains over the long term.
If you pay this fee, you don’t get anything extra in return.
Cookie Cutter Advice
The fact that she does side-by-side management is another disappointing red flag in Thais Piotrowski Ameriprise’s statements.
When a financial advisor does side-by-side managing, it means that they are in charge of both large funds and small retail accounts. When this happens, advisors and their companies tend to give most of their resources to their bigger clients, leaving the smaller clients with little or nothing.
You shouldn’t work with this kind of adviser if you have a small or medium-sized portfolio. Advisors who do side-by-side management lie when they say they give their smaller clients personalized help. They give them advice that is the same for everyone.
Each owner has his or her own needs and goals. Advice that is always the same wouldn’t help you reach your financial goals or get the results you want.
Stay away from these advisors at all costs!
Conclusion
Thais Piotrowski is a shady and self-centered planner who takes advantage of her clients in questionable ways. You shouldn’t work for a company that is so dangerous.
Florida has a lot of rich advisors, which is a good thing. So, you don’t have to choose the worst thing you can find.
Thais Piotrowski is a bad financial advisor who takes advantage of her clients in many different ways. Working with this kind of counselor wouldn’t be safe. In Florida, you should look for a different financial expert.
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