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CLIENT ALLEGES THAT SHE WAS INFORMED BY HER AGENT THAT HER ANNUITY CONTRACT WOULD BE SWITCHED INTO A 1% GUARANTEED ACCOUNT AND WAS NOT ELIGIBLE FOR THE 3%. CLIENT FURTHER ALLEGES AFTER CALLING THE SERVICE CENTER SHE DISCOVERED THAT HER ACCOUNT WAS NOT A 1% ACCOUNT. CLIENT IS REQUESTING THE FIRM TO INVESTIGATE THE MATTER. DAMAGES UNSPECIFIED.
Broker Comment
THE FIRM HAS FOUND NO BASIS TO THIS CUSTOMER'S COMPLAINT.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.