Ameriprise to Pay Nearly $1.5M Over Annuity Switches: FINRA
April 7, 2026 by Melanie Waddell
Ameriprise Financial Services has agreed to pay a $450,000 fine to the Financial Industry Regulatory Authority and $993,950.47 in restitution for failing to supervise recommendations of certain variable annuity exchanges involving contracts with guaranteed lifetime withdrawal benefit, or GLWB, riders.
Between January 2015 and December 2018, Ameriprise failed to establish and maintain a supervisory system, including written supervisory procedures, reasonably designed to supervise these annuity exchanges, according to FINRA’s order.
Originally Posted at Think Advisor on Apr 3, 2026 by Melanie Waddell.
Categories: Industry Articles
