Comments on: Inland American REITs Unsuitable For Some Investors http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/ Sat, 12 May 2012 07:14:57 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: William http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/#comment-123947 William Mon, 11 Jul 2011 01:50:42 +0000 http://www.investorprotection.com/blog/?p=683#comment-123947 Same as other comments, I trusted my ameriprise adviser to invest some of my money into a safe account however we never discussed what a reitt investment trust was to my disgust he was looking out for me I tried to unload this reitt a yr.ago and should have done it as I took a loss in Nov 2010 now I worry what is on the horizon as it seems if I want to dump this reitt it will probably cost me half of the amount I have now but guess what I will at least get half of what I got and not loose more as I am retired and this one hurts I want to dump this junk any suggestions. Bill Same as other comments, I trusted my ameriprise adviser to invest some of my money into a safe account however we never discussed what a reitt investment trust was to my disgust he was looking out for me I tried to unload this reitt a yr.ago and should have done it as I took a loss in Nov 2010 now I worry what is on the horizon as it seems if I want to dump this reitt it will probably cost me half of the amount I have now but guess what I will at least get half of what I got and not loose more as I am retired and this one hurts I want to dump this junk any suggestions.
Bill

]]> By: Robert http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/#comment-105277 Robert Wed, 25 May 2011 15:47:27 +0000 http://www.investorprotection.com/blog/?p=683#comment-105277 LIke the other comments, I wonder how advisors can make these irresponsible recommendations. Ameriprise advisers seem to have pushed this pretty hard and a number of folks are going to lose a bunch. Retirement is a few more years away now. LIke the other comments, I wonder how advisors can make these irresponsible recommendations. Ameriprise advisers seem to have pushed this pretty hard and a number of folks are going to lose a bunch. Retirement is a few more years away now.

]]> By: Lisa http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/#comment-83222 Lisa Tue, 22 Mar 2011 21:44:44 +0000 http://www.investorprotection.com/blog/?p=683#comment-83222 I can relate...my Ameriprise financial advisor at the time put me in an Inland Western Retail REIT within my IRA. I have since transfered my IRA to a new advisor, but am now dealing with new administration charges ($250/year) and transation fees ($100 per transaction) for having the non-standard assets in my account because of the new compliance requirements and associated costs. I would take a huge lose to liquidate the REIT on the secondary market, have not redemptions options, and will create a taxable event to transfer registration to a new account that doesn't charge all the fees. How can any of this be legal? I am furious. I can relate…my Ameriprise financial advisor at the time put me in an Inland Western Retail REIT within my IRA. I have since transfered my IRA to a new advisor, but am now dealing with new administration charges ($250/year) and transation fees ($100 per transaction) for having the non-standard assets in my account because of the new compliance requirements and associated costs. I would take a huge lose to liquidate the REIT on the secondary market, have not redemptions options, and will create a taxable event to transfer registration to a new account that doesn’t charge all the fees. How can any of this be legal? I am furious.

]]> By: Melinda http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/#comment-55675 Melinda Mon, 20 Dec 2010 21:12:03 +0000 http://www.investorprotection.com/blog/?p=683#comment-55675 My husband and I are in the same boat as everybody else. We had money that we wanted to invest from an inheritance that was special and dear and we wanted to make sure it was relatively going to do some work for us. At the strong advice of our broker/advisor, we diversified with the REIT investment. Now, our money has been held captive unless we take the HUGE decrease amount per share. We have found out that our advisor made the best decisions for HER, not US and I hope she can sleep at night. Unfortunately, it would cost us more money to prosecute her. I hope what goes around, comes around! My husband and I are in the same boat as everybody else. We had money that we wanted to invest from an inheritance that was special and dear and we wanted to make sure it was relatively going to do some work for us. At the strong advice of our broker/advisor, we diversified with the REIT investment. Now, our money has been held captive unless we take the HUGE decrease amount per share. We have found out that our advisor made the best decisions for HER, not US and I hope she can sleep at night. Unfortunately, it would cost us more money to prosecute her. I hope what goes around, comes around!

]]> By: Tom http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/#comment-53675 Tom Wed, 15 Dec 2010 01:39:42 +0000 http://www.investorprotection.com/blog/?p=683#comment-53675 I am in the same situation as Fred and Rich. I had $55,000 in my Inland American Fund and was told that is was a safe investemnt and that I would earn more interest on it than I would in the bank. I beleive my fund has now been revalued at $44,000. For anyone interested I would also recommend people to stay away from Pacific Life. My father and I opened an annuity with them and my father passed in 2008. I was the beneficiary on his account and his only heir. He left a Will stating this. A Judge in Oklahoma named Tom Lucas granted a court order and cashed out the fund. The money ended up in the hands of my fathers EX wife and she divorced him in 1999. I suppose nobody can be trusted. Our legal system is a complete joke. I am in the same situation as Fred and Rich. I had $55,000 in my Inland American Fund and was told that is was a safe investemnt and that I would earn more interest on it than I would in the bank. I beleive my fund has now been revalued at $44,000.

For anyone interested I would also recommend people to stay away from Pacific Life. My father and I opened an annuity with them and my father passed in 2008. I was the beneficiary on his account and his only heir. He left a Will stating this. A Judge in Oklahoma named Tom Lucas granted a court order and cashed out the fund. The money ended up in the hands of my fathers EX wife and she divorced him in 1999. I suppose nobody can be trusted. Our legal system is a complete joke.

]]> By: rich http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/#comment-31879 rich Fri, 24 Sep 2010 17:18:06 +0000 http://www.investorprotection.com/blog/?p=683#comment-31879 i have over 6000 shares of inland american reit my financial advisor got me into this because it was considered safe i was told the share price is $10.00 a share since it is not publicly traded the price does not change, paid a dividend of 6.5% which also does not change, and shares can be sold back to inland after 3 years. all of this has turned out to be not true. no byback, divdend now 5% share price to go down signifancly any time now i have over 6000 shares of inland american reit my financial advisor got me into this because it was considered safe i was told the share price is $10.00 a share since it is not publicly traded the price does not change, paid a dividend of 6.5% which also does not change, and shares can be sold back to inland after 3 years. all of this has turned out to be not true. no byback, divdend now 5% share price to go down signifancly any time now

]]> By: Fred http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/#comment-21499 Fred Sun, 18 Jul 2010 02:24:09 +0000 http://www.investorprotection.com/blog/?p=683#comment-21499 My Broker, with Contempory Pensions Incorporated, suggest this REIT and at no time did he explain the risks associated with this investment. I now hold upwards of $55,000 in this REIT and I understand it has no liquidity until they (The Board) makes a decision on when the funds can be redeemed. This was further not explained by my financial adviser. My Broker, with Contempory Pensions Incorporated, suggest this REIT and at no time did he explain the risks associated with this investment. I now hold upwards of $55,000 in this REIT and I understand it has no liquidity until they (The Board) makes a decision on when the funds can be redeemed. This was further not explained by my financial adviser.

]]> By: serbert http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/#comment-18810 serbert Fri, 11 Jun 2010 19:54:26 +0000 http://www.investorprotection.com/blog/?p=683#comment-18810 My mother passed away very recently and we learned that her banker advised her to purchase Inland American, now we have no where to turn. . . My mother passed away very recently and we learned that her banker advised her to purchase Inland American, now we have no where to turn. . .

]]> By: Barb http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/#comment-17578 Barb Fri, 28 May 2010 14:40:49 +0000 http://www.investorprotection.com/blog/?p=683#comment-17578 My investment adviser put everything into Inland American. I was completely unaware that this was a very high risk investment, I was sold on it being safe and liquid. Now, I have nearly no income, and am about to lose everything. Right before the REIT was frozen, my adviser conveniently retired and shut down his corporartion. I am desperate! My investment adviser put everything into Inland American. I was completely unaware that this was a very high risk investment, I was sold on it being safe and liquid. Now, I have nearly no income, and am about to lose everything.

Right before the REIT was frozen, my adviser conveniently retired and shut down his corporartion. I am desperate!

]]> By: sumi http://www.investorprotection.com/blog/2010/02/13/inland-american-reits-unsuitable-for-some-investors/#comment-12821 sumi Fri, 26 Feb 2010 14:56:15 +0000 http://www.investorprotection.com/blog/?p=683#comment-12821 My investment adviser put me in Inland REIT without explaining the risk associated with this type of investment. I have to confess that I was in the voulnable as a new investor. It was a life insurance proceed from my husbands death. As she explained that shares were easy to liquidate. Thank goodness it was small portion of my investment, but I have no access to my cash at this point. Do you have any suggestions? I received the offer to buy the shares at deeply discounted price, but I am tempted to take the offer to just get out of this. My investment adviser put me in Inland REIT without explaining the risk associated with this type of investment. I have to confess that I was in the voulnable as a new investor. It was a life insurance proceed from my husbands death. As she explained that shares were easy to liquidate. Thank goodness it was small portion of my investment, but I have no access to my cash at this point. Do you have any suggestions? I received the offer to buy the shares at deeply discounted price, but I am tempted to take the offer to just get out of this.

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