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Retirees Recover Losses Against Securities America In Two Arbitrations Involving Faulty Investment Strategies

Securities America (a subsidiary of Ameriprise Financial) must pay over $9 million to three retired pilots in one award, and $22 million to thirty-two Exxon retirees.

Both awards stem from unsuitable investment advice for retirees, involving mutual funds that were too aggressive and imposed high fees and trading costs.

Source: Bloomberg

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