Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, is reviewing investor complaints against San Francisco financial advisor Sam Te Su (CRD# 4232029), also known as Minh Su and Sam Su. Su is currently registered as a broker and investment adviser with Ameriprise Financial Services, LLC in San Francisco, California, and is the subject of a pending customer complaint seeking $50,000,000 in damages, according to Financial Industry Regulatory Authority, or FINRA, records.
The complaint, filed in April 2025, reportedly alleges that a customer account was not invested according to the client’s stated investment objectives and risk tolerance. Instead, the account allegedly was concentrated in speculative and volatile investments, with approximately 80 percent of the portfolio in a single stock. The complaint also reportedly alleges inappropriate behavior and conduct by the advisor. The claim is pending and the damages sought are unspecified in some public filings, though other records describe a $50 million demand.
What concentration risk means for investors
Concentration risk occurs when a large portion of an investor’s portfolio is tied to a single security, sector, or asset type. A portfolio with 80 percent allocated to one speculative stock leaves the investor exposed to sharp losses if that company misses earnings, faces regulatory action, or experiences a downturn in its industry. FINRA and the Securities and Exchange Commission, or SEC, have long warned that concentrated positions can violate suitability obligations when they do not match the customer’s risk profile or investment objectives.
Why this raises suitability questions under FINRA Rule 2111
FINRA Rule 2111 requires brokers and their firms to have a reasonable basis to believe that a recommended investment strategy is suitable for a particular customer. The rule covers three obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. A broker must understand both the product and the customer’s profile, including age, financial situation, investment experience, risk tolerance, and liquidity needs.
An account concentrated in a single speculative stock can raise customer-specific and quantitative suitability concerns. Even if individual transactions appear suitable in isolation, the overall strategy may be excessive or unsuitable when viewed together. Brokerage firms also have a duty to supervise the recommendations made by their registered representatives and to spot red flags such as concentrated positions or customer complaints about inappropriate conduct.
What investors who worked with Sam Te Su should consider
Investors who suffered significant losses while working with Sam Te Su may have options to recover through FINRA arbitration or other securities claims. Typical warning signs include:
– A portfolio heavily concentrated in one stock or sector – Investments that did not match your stated risk tolerance – Misrepresentations or omissions about an investment’s risks – Unauthorized or aggressive trading – Inappropriate conduct by the advisor – Sudden, unexplained losses that do not match your expectations
Time limits may apply, so investors should review account statements and seek legal guidance promptly if they suspect misconduct.
How Investment Fraud Lawyers can help
Our firm investigates claims involving unsuitable investment recommendations, concentration risk, and broker misconduct. We operate on a contingency-fee basis: no recovery, no fee. Investors who worked with Sam Te Su at Ameriprise, Morgan Stanley, UBS, or Merrill Lynch and experienced losses can contact us at 1-888-885-7162 or visit InvestmentFraudLawyers.com for a free case review.
This article links to our broader discussion of [unsuitable investment recommendations](/unsuitable-investment-recommendations/) and [broker misconduct claims](/broker-misconduct/).
FAQ
Who is Sam Te Su?
Sam Te Su, also known as Minh Su and Sam Su, is a San Francisco-based financial advisor registered with Ameriprise Financial Services, LLC. His CRD number is 4232029.
What is the complaint against Sam Te Su?
A pending customer complaint filed in April 2025 reportedly alleges unsuitable investment concentration, with approximately 80 percent of an account in a single speculative stock, and inappropriate advisor conduct.
How much is the complaint seeking?
Some public records state the complaint seeks $50,000,000 in damages.
What does FINRA Rule 2111 require?
FINRA Rule 2111 requires brokers to recommend only investment strategies that are suitable based on the customer’s investment profile, including risk tolerance, financial situation, and investment objectives.
Can investors recover losses?
Investors may be able to recover losses through FINRA arbitration or securities litigation, depending on the facts. Time limits apply, so early review is important.
Past results do not guarantee future outcomes. This page provides general information and is not legal advice. No attorney-client relationship is formed by reading this content. There is no assured recovery in any securities matter. Consult a qualified attorney regarding your specific situation.
