John Greg Schmidt Lawsuit | Broker Misconduct

Who Is John Greg Schmidt? | John Greg Schmidt Lawsuit John Greg Schmidt was a  is a Bellbrook, Ohio broker. This Dayton-area broker was most recently registered with Wells Fargo Advisors Financial Network before getting barred by the industry. Recently, FINRA barred Schmidt from “acting as a broker or otherwise associating with a broker-dealer firm…. Read more »

Legg Mason 401k Performance and Fee Investigation

Legg Mason 401k Performance and Fee Investigation Peiffer Wolf Carr & Kane is investigating Legg Mason employee 401(k) accounts. Our initial investigation has uncovered that Legg Mason inserted substantial amounts of its own proprietary funds in employee 401(k) accounts, allowing it to earn fees from its employees’ retirement savings. We believe that these actions were… Read more »

Bryon Martinsen Lawsuit | Broker Misconduct

Who Is Bryon Martinsen? | Bryon Martinsen Lawsuit Bryon Martinsen is a Kings Park, New York broker. Martinsen is currently registered with Centaurus Financial and was previously registered with AXA Advisors. Martinsen currently has 9 Brokercheck Disclosures, including a pending Customer Dispute for “unsuitable investments and several other allegations.” Peiffer Wolf Carr & Kane is… Read more »

AXA Hit With $3.2M FINRA Fine for Rogue Advisor Who Churned Products

Published by Life Annuity Specialist by Arthur D. Postal May 3, 2019 — An upstate New York broker’s decision to switch a farming family’s investments from life insurance to variable annuities may cost AXA Equitable $3.2 million. That’s how much a Financial Industry Regulatory Agency arbitration panel granted to James and Sandra Fitzpatrick, an elderly couple who used to run… Read more »

Axa to Pay N.Y. Egg Farmers $3.2M in Finra Award

Published by Ignites.com By Jill Gregorie May 3, 2019 — Axa Advisors must pay $3.2 million to elderly egg farmers who claim they were sold unsuitable variable annuities and life insurance policies by a Rochester, N.Y.-based broker between 2011 and 2014, a Finra arbitration panel decided last week. James and Sandra Fitzpatrick filed the claim… Read more »

Victimized Family Egg Farm Awarded Record-Setting $3 Million

Published by New York AG Connection by New York AG Connection 05/03/2019 —   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… Read more »

Victimized Family Egg Farm Awarded Record-Setting $3 Million

Published by usagnet by USAgNET 05/03/2019 —   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 client. The Whitesville, NY, victims were… Read more »

Former employer of convicted broker fined in the past by New York state

Published by ABC 13 WHAM Rochester by Jane Flasch/WHAM Thursday, May 2nd 2019 — Rochester, N.Y. – 13WHAM reported Wednesday about a Rochester investment broker convicted of grand larceny involving one client – and ordered to pay $2.3 million to another. One of the companies that broker worked for has been fined in the past by New… Read more »

Finra fines AXA $600,000 over misclassified bond funds

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” five bond funds as… Read more »