Christopher John Jacobi Subject Of Multiple Claims Of Unsuitable Investment Recommendations

Christopher John Jacobi (CRD# 1648679, aka “Chris Jacobi”) is a former registered broker and investment advisor last employed by Ameriprise Financial Services, LLC (CRD# 6363) of Pensacola, FL. Jacobi’s previous employers include Wachovia Securities, LLC (CRD# 19616) of Destin, FL, NBC Securities, Inc. (CRD# 17870) of Birmingham, AL, and Dean Witter Reynolds Inc. (CRD# 7556) of Purchase, NY. He began in the industry in 1987.

Since June of 2024, Jacobi has had 11 customer disputes filed against him. Some are settled, others are pending. Most include allegations of unsuitable investment recommendations.

Of the settled claims filed, the collective requested damages total $379,000, and the settlements total $150,000.

Although Jacobi is no longer employed as a broker or investment advisor, he is still subject to FINRA rules and regulations. No disciplinary actions have been filed as of this writing.

What Makes An Investment Unsuitable?

An investment is unsuitable when it conflicts with an investor’s risk tolerance, time horizon, liquidity needs, or overall investment objectives, even if the product might be appropriate for someone else. Unsuitable recommendations often involve complex, illiquid, or high-risk products, such as non-traded REITs, private placements, options, or leveraged ETFs. These products are sold to investors who cannot reasonably afford the risks or potential losses, nor fully understand the risks.

Regulation Best Interest (Reg BI) raises the standard for broker-dealers by requiring them to act in the best interest of retail customers when recommending securities or investment strategies, including account type and rollover recommendations. Under Reg BI’s care obligation, a broker must understand the product, consider reasonably available alternatives, and have a reasonable basis to believe the recommendation fits the investor’s profile, rather than the broker’s compensation or the firm’s sales targets.

For investors, red flags can include recommendations that concentrate too much of a portfolio in one sector, the use of excessive margin, or the generation of high commissions without a clear benefit to the client. If you recognize these patterns in your brokerage account, a securities law attorney can analyze your transactions and advise whether your broker violated any Reg BI or suitability rules.

Did You Invest With Christopher John Jacobi?

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida, and represent investors nationwide to help recover investment losses from stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 to discuss your case and your legal options.