Respondent Securities America is headquartered at 12325 Port Grace Boulevard
Lavista, Nebraska 68128, but it maintains an office in Metairie, Louisiana. Securities America is
a wholly owned subsidiary of Ameriprise Financial, Inc.On its website, Securities America
claims to be "one of the nations largest and most successful independent general securities
Securities America's Advisory Division was founded in 1993 and is an SECRegistered Investment Advisor firm with over $13 billion in assets under management. Amongother representations on its website, Securities America promises its customers that they can
"rest assured that the advice and guidance you receive [from Securities America's "independent
financial consultants"] is based on what's best for YOU, and not because your advisor is
hindered by a limited range of products or a corporate mandate dictating what they can sell or
3.Respondent Carazo held himself out as a representative of Securities America and
as "President" of "Ron Carazo and Associates, LLC." He claimed to have a special expertise inassessing the investment needs of Claimant.Carazo has been a registered representative of
Securities America since August 1992.
Accordingly, Securities America had the ability to and
did control Carazo's actions.Carazo's actions are attributable to Securities America, and
Securities America is responsible for all of Carazo's actions complained of herein.
commission-generating status caused Securities America to look the other way at Carazo's
In or around 2002, Claimant met Carazo at a financial seminar conducted byCarazo at a local hotel.
Claimant was 77 years old at the time. From the outset of the