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November 24, 2010
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Blog, Securities Fraud
In 2009, FINRA announced that it had fined NEXT Financial Group, Inc., headquartered in Houston, Texas, $1 million for supervisory violations that primarily involved the failure to supervise its approximately 130 Office of Supervisory Jurisdiction (OSJ) branch managers, who typically supervise transactions and sales
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October 21, 2010
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Blog, Securities Fraud
Waddell & Reed’s sales practices have been the subject of regulatory inquiry on several occasions. Back in 2005, FINRA resolved its action against Waddell & Reed, Inc., of Overland Park, KS, arising from thousands of variable annuity exchanges made as part of the firm’s national switching campaign.
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August 25, 2010
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Blog, Securities Fraud
The White Law Group is investigating a possible securities fraud claim on behalf an investor involving former Raymond James financial advisor Denis Johnson. Specifically, we are investigating whether Mr. Johnson improperly recommended that the retired investor invest a significant portion of her life savings in a
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August 18, 2010
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Blog, Securities Fraud
The White Law Group is investigating a possible securities fraud claim on behalf on an investor involving Northern Trust Securities, Inc. / Vision Investment Services, Inc. financial advisor Marc Brock. Specifically, we are investigating whether Northern Trust / Vision Investment Services failed to supervise Brock’s
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June 21, 2010
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Blog, Securities Fraud
The White Law Group is investigating the variable annuity sales practices of former ING financial advisor Greg H. Miller on behalf of an investor who was inappropriately sold a large ING variable annuity policy by Mr. Miller. Based on our preliminary investigation, it appears that Mr. Miller conducted a revocable
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May 24, 2010
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Blog, Securities Fraud
The Securities and Exchange Commission (SEC) recently announced that it has censured Gilman Ciocia and its Prime Capital Services unit for misrepresenting the variable annuities sold to senior citizens in South Florida. In an order, the SEC found that from approximately November 1999 through February 2007, Prime
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June 10, 2009
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Blog, Securities Fraud
Typically, with an L-Share annuity, you will pay a higher mortality, expense and administration (MEA) fee and likely get a lower return. Let’s look at a hypothetical scenario: – $100,000 investment; – Assumed growth rate of 10% over 10 years, after sub-account fees (but not including MEA fees); and
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