Earlier this month, law firm Klayman & Toskes filed a FINRA arbitration claim against Ameriprise Financial on behalf of an 81-year-old retiree, who seeks to recover losses from Retail Properties and KBS REIT, another REIT that saw its valuation decline. The client, who seeks damages of $467,000, alleges that the Ameriprise advisor said these REITs were safe, low-risk investments and put 20 percent of her retirement assets into them. The claim also alleges breach of contract, breach of fiduciary duty, failure to supervise, negligence, misrepresentations and omissions, violation of NYSE and FINRA rules, control personal liability, and violation of federal securities laws. Chris Reese, Ameriprise spokesman, declined to comment.