Fifty-plus year industry veteran and former Axa Advisors, LLC broker Leonard Feigenbaum (CRD# 205579) faces a customer complaint related to unsuitable life replacement recommendations. He has been registered with Pruco Securities, LLC in Rockville Centre, New York, since 2020. Previously, he was registered with Equitable Advisors, LLC in Rockville Centre, New York, from 2008 to 2020. He was also a registered representative with Axa Advisors, LLC in New York, New York, from 2008 to 2020. He began his career in 1969.
In April 2022, he settled with the NYS DFS related to “the financial professional acknowledges having mistakenly provided materially untrue and incorrect information, within the meaning of NY insurance law section 2110(a)(2) on renewal of his license. Financial professional agreed to this settlement with NYS and to pay a $750 fine.”
In July 2022, the State of Washington Office of Insurance Commissioner ordered him to pay a $250 fine after it was found that he failed to notify the state within 30 days about the administrative action imposed upon him by the State of New York.
Leonard Feigenbaum Customer Complaints
He has been the subject of four customer complaints between 2005 and 2020, one of which was closed without action, according to his CRD report. The most recent complaint was regarding:
October 2020. “Plaintiff alleges the representative made an unsuitable life replacement recommendation and misrepresented and omitted terms of the universal life policy. The activity is alleged to have occurred 2010.” The case is currently pending. The complaint was regarding insurance losses, and it took place while he was registered with Axa Equitable Life Insurance Co.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Axa Advisors, LLC may be liable for investment or other losses suffered by Leonard Feigenbaum’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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