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National Investment Fraud Lawyers

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VALIC Financial Advisors to Pay $1.75 Million for Variable Annuity Swaps

VALIC Financial Advisors to Pay $1.75 Million for Variable Annuity Swaps

Posted on Monday, March 15th, 2021 at 10:26 pm    

In January 2021, FINRA fined VALIC Financial Advisors $1.75 million regarding variable annuity exchanges. According to FINRA’s Letter of Acceptance Waiver, and Consent (AWC), from October 2011 through December 2014, VALIC Financial Advisors failed to establish, maintain and enforce a system reasonably designed to supervise the sale of variable annuity contracts. Variable annuity swaps can… Read More

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Triad Advisors to Pay $194,000 Settlement for Failure to Supervise Mutual Fund Transactions

Posted on Monday, March 8th, 2021 at 7:05 pm    

In February 2021, Financial Industry Regulatory Authority (FINRA) ordered Triad Advisors to pay a $150,000 fine for not adequately supervising both short-term trades involving Class A shares of mutual funds and variable annuity exchanges, as well as not making timely disclosures involving customer complaints and arbitration. Triad Advisors also agreed to repay affected clients nearly… Read More

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Variable Annuity Investment Losses with Former Woodbury Financial Services, Inc. Broker Lisa Brumm

Posted on Monday, March 1st, 2021 at 7:48 pm    

Erez Law is currently investigating former Woodbury Financial Services, Inc. broker Lisa Brumm (CRD# 2834764) regarding variable annuity investment losses. Brumm has been registered with Woodbury Financial Services, Inc. in Portland, Oregon from 2017 to 2020. Previously, Brumm was registered with AXA Advisors, LLC in Portland, Oregon from 2011 to 2017. In February 2021, FINRA… Read More

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Investment Loss Options for Clients of Former Bankers Life Securities, Inc. Broker Ryan Tarjanyi

Posted on Monday, February 1st, 2021 at 8:52 pm    

Erez Law is currently investigating former Bankers Life Securities, Inc. broker Ryan Tarjanyi (CRD# 6065805) regarding investment losses. Tarjanyi was registered with Trustmont Financial Group, Inc. in Greensburg, Pennsylvania from 2018 to 2020. Previously, Tarjanyi was registered with Bankers Life Securities, Inc. in Kettering, Ohio from 2016 to 2018 when he was terminated regarding, “Not… Read More

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Transamerica Financial Advisors Pays $8.8 Million Fine and Restitution for Unsuitable Mutual Funds, Variable Annuities, and 529 Savings Plans

Posted on Tuesday, January 26th, 2021 at 7:25 pm    

In December 2021, FINRA sanctioned Transamerica Financial Advisors $8.8 million over unsuitable sales of mutual funds, variable annuities, and 529 savings plans. The settlement included $4.4 million restitution and a $4.4 million fine to 2,400 affected customers.  FINRA found that between May 1, 2010 and May 15, 2016, Transamerica Financial Advisors failed to supervise its… Read More

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Variable Annuity Losses with Money Concepts Capital Corp. Broker Ray Reese

Posted on Tuesday, January 12th, 2021 at 10:21 pm    

Erez Law is currently investigating Money Concepts Capital Corp. broker Ray Reese (CRD# 1694620) regarding variable annuity loses. Reese has been registered with Money Concepts Capital Corp. in Farmington, Missouri since 1997. Reese has been the subject of five customer complaints between 1999 and 2020, one of which was denied and one was closed without… Read More

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Options for Clients of FSC Securities Corporation Broker Frank Briseno III

Posted on Wednesday, January 6th, 2021 at 12:55 am    

There are options for clients of FSC Securities Corporation broker Frank Briseno III (CRD# 1177246) who suffered investment losses. Briseno has been registered with FSC Securities Corporation in Metairie, Louisiana since 2004. Briseno has been the subject of three customer complaints between 2017 and 2020, one of which was denied, according to his CRD report:… Read More

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Attention Victims of Western International Securities, Inc. Broker Thomas Swan

Posted on Wednesday, January 6th, 2021 at 12:51 am    

Were you the victim of Western International Securities, Inc. broker Thomas Swan (CRD# 1698430)? Swan has been registered with Western International Securities, Inc. in Ventura, California since 2008. Swan has been the subject of two customer complaints between 2002 and 2020, one of which was denied, according to his CRD report: August 2020. “Negligent Misrepresentation.”… Read More

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FINRA Sanctioned Transamerica Financial Advisors, Inc. $8.8 Million For Supervisory Violations

Posted on Wednesday, January 6th, 2021 at 12:29 am    

In December 2020, FINRA sanctioned Transamerica Financial Advisors, Inc. $8.8 million for supervisory violations related to variable annuities, mutual funds and 529 plans; this includes $4.4 million in restitution to 2,400 customers and a $4.4 million fine.  According to FINRA, the Transamerica Financial Advisors, Inc. failed to supervise its registered representatives’ recommendations of variable annuities,… Read More

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Variable Annuities Losses with LPL Financial LLC Broker David Taddeo

Posted on Monday, November 9th, 2020 at 11:28 pm    

Did you lose money investing with LPL Financial LLC broker David Taddeo (CRD# 1163829)? Taddeo has been registered with LPL Financial LLC in La Mesa, California since 2000.  Taddeo has been the subject of five customer complaints between 2002 and 2020, one of which was denied, according to his CRD report. The most recent complaints… Read More

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