Customer alleged representative failed to follow instructions in February 2020 to redeem sub-accounts in variable annuity timely, which resulted in market losses.

$26,000.00

$18,946.87

Customer alleged the RR misrepresented the features of the VUL contract when she purchased the contract in December 2017.

$123,293.36

$50,043.90

Customer alleged RR misrepresented the tax considerations regarding premium payments for the VUL purchased in December 2014.

$173,644.67

$491,500.00

I DISPUTE THE ALLEGATIONS SET FORTH IN THE DISCLOSURE REGARDING THE PARTICULAR ACTIONS TAKEN BY ME. I WAS NOT, NOR WAS I EVER A TAX ADVISOR TO THE CUSTOMER. CUSTOMER HAD HER OWN COUNSEL AND ACCOUNTANT TO ADVISE HER ON THE TRANSACTION. THE TRANSACTION WAS COMPLETED IN DECEMBER, 2014. AN INQUIRY WAS MADE BY THE ACCOUNTANT A YEAR LATER. I RELAYED THE INQUIRY TO MY SUPERIOR. OVER SEVEN YEARS AFTER THE TRANSACTION WAS COMPLETED, CUSTOMER FILED A CLAIM. I DID NOT CONTRIBUTE TO ANY SETTLEMENT OR AWARD.

THE CUSTOMERS ALLEGED THE RR MISREPRESENTED THE FEATURES AND BENEFITS OF THE GUARANTEED MINIMUM WITHDRAWAL BENEFIT RIDER INCLUDED WITH THEIR VARIABLE ANNUITY CONTRACTS. TROY'S CONTRACT WAS ISSUED ON 05/27/2008 AND JANET'S CONTRACT WAS ISSUED ON 05/15/2008. FIRM FOUND RR PROVIDED CORRECT INFORMATION TO CUSTOMERS.

CONTRACTS ARE HELD BY A THIRD PARTY MANUFACTURER. CUSTOMERS ARE WORKING WITH THE THIRD PARTY MANAUFACTURER TO CORRECT THE ISSUE. NO ACTION REQUIRED BY THE FIRM.