I invested a modest sum of money with Ameriprise (was part of American Express) . I specifically refused heavily loaded funds and ones that have exceedingly long terms.
So, eventually, I was provided with an option that met my criteria.
You can guess what happened! They placed my funds in a heavily front loaded, 10 year annuity with poor returns. And, more specifically, they did not place my money in the real estate fund I had picked, the very one they had me sign up for.
6 years down the road, there really is nothing I can do. Some investment advisers really are going to line their pockets without regard to the clients wishes.
Thank God it was not a huge sum of money.
Edit: What seems to have happened is that they did place my money in the real-estate fund (6-7 years ago) , for 1 year. It did very well. The money then simply became a "cash on account" with no interest situation. So the adviser simply invested my money, without my consent in a 10 year annuity. I'm only 3 years in.