Ted Boutis: Ameriprise Advisor Received $1mm Complaint

Melville, New York financial advisor Ted Boutis (CRD# 2951760) misrepresented variable annuity investments, according to an investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Ameriprise Financial Services.

Mr. Boutis’ BrokerCheck report discloses several investor complaints. The most recent, filed in in March 2025, alleged that as an Ameriprise representative, he misrepresented variable annuity investments and recommended an unsuitable life insurance policy. The complaint alleged damages of $1 million and was denied by the firm.

A second investor complaint, filed in 2022, similarly alleged that as an Ameriprise representative, he misrepresented and recommended unsuitable mutual funds. In 2023 the complaint reached a settlement of $50,000.

A third investor complaint, filed in 2021, alleged that he recommended unsuitable C-share mutual funds, variable annuities, and margin use. In 2022 the complaint reached a settlement of $69,500.

A fourth investor complaint, filed in 2021, also alleged that he recommended unsuitable margin use, mutual funds, and variable annuities. In 2022 the complaint reached a settlement of $125,000.

A fifth investor complaint, filed in 2020, alleged that he “made poor investment recommendations,” specifying that the investments in question were C-share mutual funds. In 2022 the complaint reached a settlement of $70,000.

Ameriprise Financial Services’ website includes a section in which Mr. Boutis describes his approach to working with his clients. “Our practice is dedicated to helping you formulate a strategy for retirement that considers all your assets, savings, investments, Social Security and other potential income sources,” it explains. “Our goal is to help you grow and preserve your income during your working years and develop a distribution plan for retirement that can help weather market ups and downs.”

According to the Financial Industry Regulatory Authority, Ted Boutis holds 27 years of securities industry experience. Based in Melville, New York, he has been registered as a broker and an investment advisor with Ameriprise Financial Services since 1997 and 2006, respectively. He was previously registered with IDS Life Insurance Company from 1997 until 2006. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 20 state licenses. (Information current as of April 12, 2025.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.