Client alleges that at time of sale the registered representative told him the variable annuity guaranteed a minimum return on his investment.

$52,000.00

$63,653.28

Client alleges the representative didn't advise of annuitization options. Client alleges they were unaware of the fees being assessed on their variable annuity contracts.

$114,000.00

FINRA

Without admitting or denying the findings, Geiser consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony in connection with an investigation into allegations of misconduct against Geiser, including allegations that he made unsuitable recommendations and misleading statements about variable annuities to several customers.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

Indefinite

11/4/2016

CLIENT ALLEGES THAT AT TIME OF SALE OF HIS VARIABLE ANNUITY THAT THE REGISTERED REPRESENTATIVE DID NOT INFORM HIM THAT HE WAS PURCHASING AN ANNUITY AND THAT HE WAS NOT AWARE THAT THERE WERE SURRENDER CHARGES.

$24,392.11

Client alleging she didn't understand she was invested in an annuity and now has concerns with the fees.

$20,679.60

client purchased 3 whole life paid up insurance policies between 12/2011 and July 2012, client is now alleging that she didn't realize these were life insurance policies and that she thought she was purchasing Annuities. client further states she didn't need the life insurance

$15,000.00

Client alleges that at time of sale the registered representative told them the variable annuity guaranteed a minimum return on their investment.

$55,617.41

client alleges that at the time of sale the registered representative told him the variable annuity guaranteed a minimum return on his investment.

$15,373.01

Trustee alleges that he made RR aware that he would need a liquid investment; upset that there were surrender charges to withdraw the money from the product.

$19,037.98

Client alleges that at time of sale the VA was represented as having a guaranteed rate of return

$27,200.00

The client alleged he was not aware his money was going into an annuity, although disclosure language the client signed indicated he was applying for an equity indexed annuity. The client alleged he wasn't educated about surrender fees or how tax penalties would affect him and had he been properly educated he never would have purchased the annuity product.

$89,002.61

$513,098.07

Client felt he was misled by registered representative regarding the sale of a variable annuity.

$107,862.57

Client alleges VA was falsely presented at time of sale regarding annual fees and annual returns

$22,313.14

CLIENT ALLEGED THE RR DIDN'T PROPERLY EXPLAIN THE PRODUTS TO HIM, INCLUDING NOT MAKING HIM AWARE OF SURRENDER CHARGES. CLIENT STATES THE ANNUITIES WERE NOT SUITABLE AS THE RR WAS AWARE HE HAD LIQUIDITY NEEDS TO PAY COLLEGE TUITION FOR CHILDREN.

$54,166.37

CLIENT ALLEGED REGISTERED REPRESETNATIVDE MISREPRESENTATED A POLICY SOLD IN 2013

$40,294.38

$40,294.38

Princor Financial Services

Discharged

Issues involving suitability recommendations.