Ameriprise Advisor Faces Complaint Over Unauthorized Trades and Predatory Practices

A financial advisor from Salinas, California has been accused of unauthorized trades and predatory sales practices. Larry Nelson is registered as a broker and investment advisor with Ameriprise Financial Services, according to FINRA records.

The most recent complaint against him alleges damages of $1,881,039.19 and was filed in August 2026. The complaint states that Nelson made unauthorized transactions, breached his fiduciary duty, and violated Regulation Best Interest while working with Ameriprise Financial Services.

This is not the first time Nelson has faced investor complaints. In April 2003, another client alleged mismanagement of their investments at American Express Financial Advisors, resulting in damages of $72,489. The firm denied this complaint.