Published by Financial Advisor IQ By Alex Padalka May 3, 2019 --- AXA Advisors is on the hook for close to $4 million over alleged failures in supervising the variable annuity and insurance sales by one of its brokers and, in a separate case, alleged misrepresentations to 401(k) plan participants. A Finra arbitration...
Published by Olean Times Herald By JULIE McMAHON Syracuse Media Group (TNS) May 2, 2019 @ 12:28 pm --- An Allegany County egg-farming family was awarded $3.2 million in what lawyers believe is the largest settlement of a financial securities fraud case in Upstate New York history. AXA financial advisor Francesco...
Published by Investment News By InvestmentNews May 2, 2019 @ 12:28 pm --- Funds sold to 401(k) plans as investment grade actually held lots of junk The Financial Industry Regulatory Authority Inc. has fined AXA Advisors$600,000 and ordered the firm to pay approximately $172,000 in restitution for distributing materials that "negligently misrepresentated"...
Published by MyTwinTiers.com Posted: May 02, 2019 10:48 AM EDT Updated: May 02, 2019 10:48 AM EDT --- ROCHESTER (WROC) - An egg-farming family in Allegany County is receiving a $3.2 million award after they said they were swindled by an AXA financial broker. According to the lawyers on...
Published by InsuranceNewsNet From Business Wire May 1, 2019 --- A FINRA arbitration panel has awarded $3.2 million to an Alleghany County egg-farming family swindled in a variable annuity (VA) and life insurance scheme promoted by a former AXA financial advisor who was recently convicted for stealing from another elderly AXA...
Published by Spectrum News By Jim Aroune PUBLISHED 5:46 PM ET MAY. 01, 2019 UPDATED 9:11 AM ET MAY. 02, 2019 --- [video width="640" height="480" mp4="https://brokerwatch.com/wp-content/uploads/2019/05/puccio_spectrum.mp4"][/video] A financial advisor fraud has led to the single largest securities settlement in Upstate New York. Counsel for two of the victims believes it may...
Published by 13 WHAM Rochester By Jane Flasch Wednesday, May 1st 2019 --- Rochester, N.Y. — For their entire lives, Jim and Sandra Fitzpatrick managed an egg farm in rural Allegany County. In their retirement, their broker recommended they cash in a life insurance policy for a new investment. "I don't...
PWCK Law Firm Cautions Case is Just “Tip of Iceberg” of Problem AXA Brokers; News Event Features 81-Year-Old Widow Who Lost Entire Life Savings to Same AXA Broker. -- ROCHESTER, N.Y. – May 1, 2019 – A FINRA arbitration panel has awarded $3.2 million to an Alleghany County...
Published by ThinkAdvisor By Melanie Waddell May 01, 2019 --- The arb award is the largest ever imposed on AXA, the plaintiffs' lawyers said. A Financial Industry Regulatory Authority arbitration panel awarded an elderly couple from New York $3.2 million for being put into unsuitable variable annuity and life insurance...
Published by wealthmanagement.com By Diana Britton May 01, 2019 --- The couple said their AXA broker sold them high-end, high-commission annuities and life insurance policies when they didn’t need them. A FINRA arbitration panel has ordered AXA Advisors to pay $3.2 million in damages and fees to an elderly couple who oversaw...
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