Variable Annuities Attorney - Law Offices of Robert Wayne Pearce

Jul 15, 2021

Portland, Oregon Variable Annuities Investment Dispute Lawyer

Did Lisa Ann Brumm Cause You Investment Losses? Lisa Ann Brumm of Portland, Oregon submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which she was fined $7,500 and suspended from association with any FINRA members in all capacities for a period of six months. The sanctions were based on findings that she recommended unsuitable variable annuities, borrowed money from the same customer and made misrepresentations all in violation of FINRA Rules 2111, 2330, 3240 and 2010. The suspension remains in effect from February 16, 2021, through August 15, 2021. From July 2011 to May 2017, Lisa Ann Brumm was registered with Equitable Advisors LLC as an investment company and variable contracts products representative. According to FINRA’s findings, Brumm allegedly recommended that a customer invest $400,000 into two deferred variable annuities while also entered into an oral agreement to borrow $40,000. The findings state that Brumm did not have a reasonable basis to believe that the recommendations were suitable and was also aware of her member firms’ written procedures that did not permit representatives from borrowing money from a customer. In addition to the findings, FINRA alleged that Brumm negligently misrepresented to another customer the effect of a $20,000 withdrawal from a variable annuity which resulted in $600 in charges and fees. Although Lisa Ann Brumm is not currently registered or associated with a member firm, she remains subject to FINRA’s jurisdiction. FINRA Rule 2111 requires that an associated person have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the associated person to ascertain the customer’s investment profile. FINRA Rule 2330 states that no associated person shall recommend to any customer the purchase of a deferred variable annuity unless such associated person has a reasonable basis to believe, among other things, that (a) the customer would benefit from certain features of deferred variable annuities, such as tax-deferred growth, annuitization, or a death or living benefit; and (b) the particular deferred variable annuity as a whole including its riders and similar product enhancements are suitable for the particular customer. FINRA Rule 3240 provides that no registered representative may borrow money from or lend money to any customer of such person, unless, among other things, the member has written procedures allowing the borrowing and lending of money between such registered persons and customers of the member, and the registered person complies with certain notice requirements. Violations of FINRA Rules 2111, 2330 and 3240 are also violations of FINRA Rule 2010. Do You Need an Oregon Variable Annuity Investment Attorney? Are you a Portland, Oregon investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Oregon stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated, and nationally recognized FINRA securities arbitration law attorney — an attorney who understands these highly complex and risky Variable Annuity investments. Free Initial Consultation With Experienced Variable Annuities Investment Lawyers Serving Portland, Oregon Residents In FINRA Arbitration Proceedings At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities, and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Oregon, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities, and investment law disputes serving Oregon citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 9, 2021

Midlothian, Texas Securities Attorney For Variable Annuities Investment Disputes

Did Scott Patrick Klor Cause You Investment Losses? Scott Patrick Klor of Midlothian, Texas submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he received a fine and suspension for allegedly engaging in unapproved private transactions in violation of NASD Rule 3040 and FINRA Rule 2010. Scott Patrick Klor registered with LPL Financial LLC as a General Securities Representative and General Securities Principal in March 2011. FINRA’s findings stated, Mr. Klor solicited investors, including some of his firm customers, to form an LLC for purchasing a variable life insurance policy for $1.4 million on the life of an elderly individual with a terminal illness. According to FINRA, the transaction was structured as a viatical settlement and Mr. Klor did not inform his firm of his involvement. FINRA found that Mr. Klor used his firm email account to communicate with investors and received a 4% interest in the LLC. FINRA further found, when the insured passed away, the death benefit on the policy was worth less than invested and the investors who owned 90% of the LLC lost over $200,000. Additionally, Mr. Klor allegedly falsely answered questions on the firm’s annual compliance questionnaires as to whether he had ever participated in a viatical settlement. Scott Patrick Klor, without admitting or denying FINRA’s findings, was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for 14 months. Do You Need an Attorney for a Variable Annuity Dispute? Texas has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to make unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and Texas securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout Texas and Nationwide. Are you a Texas investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Texas stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer — an attorney who understands these highly complex and risky Variable Annuity investments. You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout Texas, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Variable Annuities Investment Attorney Serving Texas Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Variable Annuities cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 1, 2021

Dublin, Ohio Securities Attorney For Variable Annuities Investment Disputes

Did Darrell Glynn Frazier Cause You Investment Losses? Darrell Glynn Frazier, a former broker at New York City, New York-based Park Avenue Securities LLC, submitted a Letter of Acceptance, Waiver and Consent (AWC) in which he agreed to, without admitting or denying, the described penalty and the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that he made misrepresentations in connection with the sale of variable annuities. Mr. Frazier informed customers they would earn a 7% or more return by buying variable annuity products and that the principal amount invested would be guaranteed against loss. Mr. Frazier falsely assured one customer he would not be charged annual fees on his variable annuities and falsely advised another customer that he would only make money from the annuity purchase if the customer made money. FINRA’s findings also stated that some customers questioned Mr. Frazier asking why a particular annuity was not performing as expected and why the values of their annuities were decreasing. Mr. Frazier assured them that they were receiving the 7% return and that their principal was safe and always promised to look into the matter, but he never did. Further, FINRA found that Mr. Frazier often completed or partially completed forms that the customers were required to fill out to apply for a variable annuity contract. Mr. Frazier gave incorrect information; overstating the net worth and income of customers and inaccurately characterizing their risk tolerances. Mr. Frazier often had customers sign undated, blank brokerage forms. The signed, blank forms were found in his files with correspondence clearly instructing customers to sign but not date the blank forms. Consequently, Mr. Frazier willfully violated Section 10(b) of the Securities Exchange Act of 1934, FINRA Rules 2010 and 2020, and NASD Rules 2110 and 2120. Mr. Frazier of Dublin, Ohio was prohibited from association with any FINRA member in any capacity. Do You Need A Securities Attorney For Variable Annuities Investment Disputes? Ohio has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to make unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and Ohio securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout Ohio and Nationwide. Are you an Ohio investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Ohio stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer — an attorney who understands these highly complex and risky Variable Annuity investments. You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout Ohio, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Variable Annuities Investment Attorney Serving Ohio Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Variable Annuities cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving Ohio citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 27, 2021

Dix Hills, New York Securities Attorney For Variable Annuities Investment Disputes

Did Walter Marino Cause You Investment Losses? Walter Marino of Dix Hills, New York was named a Respondent in a Financial Industry Regulatory Authority (FINRA) complaint that alleges he made unsuitable recommendations that caused a customer to incur unnecessary surrender fees. The FINRA investigators alleged Mr. Marino recommended variable annuity replacements without any reasonable basis to do so. The customer suffered a surrender charge of $86,523.23 due to Mr. Marino’s unsuitable recommendations and unlawful acts of conduct. During the same period Mr. Marino received $60,000 in commissions for the transactions. As a result of Mr. Marino’s unsuitable recommendations he received commissions while his customer suffered a severe loss. FINRA is currently seeking information that can lead to the disciplinary charges against Mr. Marino. Do You Need A Securities Attorney For Variable Annuities Investment Disputes? New York has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to make unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and New York securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout New York and Nationwide. Are you a New York investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New York stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer — an attorney who understands these highly complex and risky Variable Annuity investments. You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout New York, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Variable Annuities Investment Attorney Serving New York Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Variable Annuities cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving New York citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 26, 2021

Centreville, Virginia Securities Attorney For Variable Annuities Investment Disputes

Did John Hongkeun Pak aka Hong Gown Pak Cause You Investment Losses? John Hongkeun Pak aka Hong Gown Pak, a former broker employed at New York City, New York-based MetLife Securities Inc., submitted a Letter of Acceptance, Waiver and Consent in which he agreed to the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that he utilized discretionary power in a customer’s account without the customer’s written consent or his firm’s acceptance of the discretionary account. FINRA’s findings stated that Mr. Pak reallocated about $240,000 of the customer’s investment in a variable annuity from a fixed income subaccount to equity subaccounts. The value of the customer’s investments in the equity subaccounts decreased, and Mr. Pak again utilized discretionary power by reallocating the customer’s investments in the equity subaccounts back into the fixed income subaccount. FINRA found that Mr. Pak’s firm barred discretionary trading in variable annuity subaccounts. Subsequently, the firm settled with the customer by reimbursing the losses she sustained due to Mr. Pak’s discretionary transactions in her account. Mr. Pak of Centreville, Virginia was fined $5,000 and suspended from association with any FINRA member in any capacity for one month. Do You Need a Lawyer for a Variable Annuity Investment Dispute? Virginia has hundreds of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to make unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and Virginia securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout Virginia and Nationwide. Are you a Virginia investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Virginia stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer — an attorney who understands these highly complex and risky Variable Annuity investments. You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areassuch asfraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout Virginia, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Variable Annuities Investment Attorney Serving Virginia Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Variable Annuities cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving Virginia citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 22, 2021

Parsippany, New Jersey Securities Attorney For Variable Annuities Investment Disputes

Did Summit Equities, Inc. Cause You Investment Losses? Summit Equities, Inc. submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which it was fined $325,000 for failing to properly supervise its registered representatives’ recommendations and sales of multi-share-class variable annuities. Registered with FINRA since 1982, with headquarters in Parsippany, New Jersey, Summit Equities has approximately 132 registered representatives. According to FINRA, during the relevant time period, Summit Equities sold 1,037 individual variable annuity contracts to its customers. FINRA found that approximately 45% of those contracts were L-share contracts. FINRA also found that Summit Equities did not provide its registered representatives with proper training and guidance on suitability considerations for these variable annuities, which provide a shorter surrender period than B-share contracts, but have a higher fee in exchange for increased liquidity. Summit Equities, without admitting or denying the FINRA findings, was censured and assessed a $325,000 fine. Do You Need A Securities Attorney For Variable Annuities Investment Disputes? New Jersey has hundreds of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to make unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and New Jersey securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout New Jersey and Nationwide. Are you a New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts? Did your New Jersey stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer — an attorney who understands these highly complex and risky Variable Annuity investments. You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout New Jersey, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Variable Annuities Investment Attorney Serving New Jersey Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Variable Annuities cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving New Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 8, 2021

Overland Park, Kansas Securities Attorney For Variable Annuities Investment Disputes

Did VSR Financial Services Cause You Investment Losses? VSR Financial Services, Inc., headquartered in Overland Park, Kansas, submitted a Letter of Acceptance, Waiver and Consent (AWC) to FINRA for failing to adequately supervise the sales of variable annuities, specifically L-share variable annuities. FINRA found VSR Financial Services failed to establish, maintain, and enforce an adequate supervisory system to identify red flags related to the sale of L-share variable annuities. Additionally, FINRA found that VSR Financial Services failed to provide its registered representatives with proper training and guidance on suitability considerations for these variable annuities. According to FINRA, the L-share annuities are a complex investment product that is only suitable for a narrow class of investors and that VSR Financial Services allegedly failed to provide its registered representatives with appropriate guidance to discern this class of investor. FINRA found VSR Financial Services approved 692 L-share variable annuity contracts which had a long-term income rider, an investment which has conflicting time horizons. FINRA goes on to state that in many cases, the customer purchasing the L-share variable annuity had a long-term investment horizon of over seven years. This fact was a red flag that a different investment with lower fees would be more suitable for the customer. Without admitting or denying the FINRA findings, VSR Financial Services was ordered to pay a $400,000 fine. Do You Need A Securities Attorney For Variable Annuities Investment Disputes? Kansas has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to make unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and Kansas securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout Kansas and Nationwide. Are you a Kansas investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Kansas stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer — an attorney who understands these highly complex and risky Variable Annuity investments. You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout Kansas, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Variable Annuities Investment Attorney Serving Kansas Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Variable Annuities cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving Kansas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 7, 2021

Des Moines, Iowa Securities Attorney For Variable Annuities Investment Disputes

Did Voya Financial Advisors, Inc. Cause You Investment Losses? Voya Financial Advisors, Inc. of Des Moines, Iowa submitted an AWC to FINRA for failing to adequately supervise the sales of variable annuity L-shares. FINRA found that from July 2012 to August 2014, Voya failed to identify red flags in the sale of variable annuity L-shares. Further, FINRA found that Voya failed to provide its registered representatives with adequate training and guidance on suitability considerations for these multi-share class variable annuities. According to FINRA, the L-share annuities are a complex investment product that is only suitable for a narrow class of investors and that Voya allegedly failed to provide its advisors with reasonable guidance to discern this class of investor. FINRA noted that during the relevant time period, Voya approved 1,315 L-share variable annuity contracts with a long-term income rider, an investment which has conflicting time horizons. In 70% of Voya’s 1,315 L-share contracts sold, the customer purchasing it had a long-term investment horizon of over seven years. This fact was a red flag that a different investment with lower fees would be more suitable for the customer. FINRA alleges that Voya failed to identify and investigate these red flags. Without admitting or denying the FINRA findings, Voya Financial was ordered to pay a $2.75 million fine. Do You Need A Securities Attorney For Variable Annuities Investment Disputes? Iowa has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to make unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout Iowa and Nationwide. Are you an Iowa investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Iowa stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer — an attorney who understands these highly complex and risky Variable Annuity investments. You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areassuch asfraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout Iowa, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Variable Annuities Investment Attorney Serving Iowa Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Variable Annuities cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving Iowa citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 5, 2021

Greenwood, Indiana Securities Attorney For Variable Annuities Investment Disputes

Did Christopher Michael Herrmann Cause You Investment Losses? Christopher Michael Herrmann of Greenwood, Indiana submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was assessed a deferred fine of $10,000 and received a suspension. Mr. Herrmann was employed with Key Investment Services (KIS) during the relevant time period. According to FINRA’s findings, Mr. Herrmann recommended annuity transactions to retired and elderly customers. FINRA’s investigation involved allegations that Mr. Herrmann failed to facilitate the transactions as a tax free 1035 exchange, which resulted in significant tax liability to the customers. FINRA found that Mr. Herrmann allegedly circumvented KIS’s compliance procedures and supervision by hiding these switch transactions and providing fictitious information. Due to the above referenced conduct, FINRA determined that Christopher Herrmann was in violation of FINRA Rules 4511, 2111 and 2010. Without admitting or denying FINRA’s allegations, Christopher Herrmann agreed to the sanctions and received a suspension from associating with any FINRA member in all capacities for nine months. Do You Need An Indiana Securities Attorney For Variable Annuities Investment Disputes? Indiana has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to make unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and Indiana securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout Indiana and Nationwide. Are you an Indiana investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Indiana stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer — an attorney who understands these highly complex and risky Variable Annuity investments. You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout Indiana, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Variable Annuities Investment Attorney Serving Indiana Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Variable Annuities cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving Indiana citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Jan 5, 2021

Pacifica, California Securities Attorney For Variable Annuities Investment Disputes

Did John Hudnall Cause You Investment Losses? John Hudnall of Pacifica, California was named a Respondent in a FINRA complaint that alleged he participated in undisclosed and/or unapproved outside business activities while associated with FINRA member firm BancWest and U.S. Bancorp. FINRA alleged that Mr. Hudnall, made unapproved and undisclosed financial sales promotions to firm customers, recommended and sold an unsuitable variable annuity product and provided false information in response to FINRA information requests. FINRA’s investigators also alleged that in connection with an undisclosed securities transaction in May 2012, Mr. Hudnall artificially split a customer’s $400,000 REIT investment into two parts and submitted only the smaller part ($40,000) to his firm for supervisory review and approval generating himself $25,000 in ill-gotten commissions. Additionally, FINRA found that Mr. Hudnall implemented a system in which he offered and paid monetary incentives to two customers from his own personal funds to incentivize clients to hold their fixed annuity contracts for longer periods of time enabled Mr. Hudnall to retain commissions he would have lost had the customer opted out. The Department of Enforcement of FINRA has requested findings of fact and conclusions of law that Mr. Hudnall committed the violations charged and alleged within the complaint and has ordered that one or more of the sanctions provided under FINRA Rule 8310(a) be imposed. Do You Need A California Securities Attorney For Variable Annuities Investment Disputes? California has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to make unsuitable recommendations and misrepresent and/or mislead investors about the risks of owning variable annuities, their features including surrender fees before investing in Variable Annuities and engage in all kinds of stockbroker misconduct which violates Federal and California securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers With Claims by Investors Who Purchased Variable Annuities In FINRA Arbitrations Throughout California and Nationwide. Are you a California investor who has suffered significant losses in your stock brokerage and investment accounts? Did your California stockbroker or investment advisor misrepresent or mislead you about a Variable Annuity investment or make an unsuitable recommendation that you invest in a Variable Annuity or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration lawyer — an attorney who understands these highly complex and risky Variable Annuity investments. You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful attorney like Robert Wayne Pearce with over 40 years of experience with variable annuities by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your Variable Annuity investment losses and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Variable Annuities and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areassuch asfraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Index Annuities. Attorney Pearce and his staff represent investors throughout California, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Variable Annuities Investment Attorney Serving California Residents In FINRA Arbitration Proceedings The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle Variable Annuities cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success representing investors who were sold Variable Annuities and all kinds of securities and investments serving California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.