RedFlag, Allegation and/or Complaint against PAUL MARKOWSKI
Disclosure #1 for PAUL MARKOWSKI
- Event Date: 7/23/2013
- Disclosure Type: Customer Dispute
- Disclosure Resolution: Settled
- Disclosure Detail :: Allegations: ALLEGATIONS MADE WITH REGARD TO SUITABILITY OF AN EQUITY INDEXED ANNUITY PURCHASED BY COMPLAINANT, AND THE METHODS IN WHICH THE PRODUCT WAS SOLD. COMPLAINANT STATES THAT A FREE TRIP WAS OFFERED WITH THE PURCHASE OF A PRODUCT, BUT NEVER RECEIVED THE TRIP. COMPLAINANT ADDITIONALLY ASSERTS THAT $56,178.65 WAS LOSS IN DEATH BENEFIT VALUE FROM THE VARIABLE ANNUITY THAT SHE PREVIOUSLY HELD AND LIQUIDATED TO FINANCE THE PURCHASE OF AN EQUITY INDEXED ANNUITY.
- Damage Amount Requested: $56,179.00
- Settlement Amount: $11,774.02
- Arbitration Docket Number:
- Broker Comment: THIS COMPLAINT AROSE AFTER THE CLIENT HAD BEEN INVESTED IN THE PRODUCT FOR 9 MONTHS. IT IS REASONABLY SUSPECTED, BASED ON DISCUSSIONS WITH THE CLIENT PRIOR TO THE COMPLAINT, THAT THE COMPLAINT WAS INFLUENCED BY A COMPETING INSURANCE AGENT. THE SEQUENCE OF EVENTS AND ALLEGATIONS IN THE WRITTEN COMPLAINT WAS INCORRECT. GREAT CARE AND PLANNING WAS PUT INTO CONDUCTING THE NEEDS ANALYSIS AND SUITABILITY WITH THE CLIENT OVER A PERIOD OF 2-3 MONTHS. I COLLABORATED IN GREAT DETAIL WITH DIFFERENT SUBJECT MATTER EXPERTS DURING THE PROCESS. DUE DILIGENCE WAS CONDUCTED ON CURRENT AND ALTERNATIVE PRODUCTS TO INCLUDE CONTACTING CURRENT PROVIDERS TO LOOK AT OTHER OPTIONS WITHIN THE PRODUCT, AS DOCUMENTED IN NOTES TAKEN. I EVEN HAD CONSULTED A LEGAL EXPERT THAT MET WITH THE CLIENT AND ALSO REVIEWED THEIR SITUATION. IN THE END THE CLIENT CHOSE TO MOVE A PORTION OF HER MONEY INTO AN EQUITY INDEXED ANNUITY. AGAIN AS MENTIONED, IT WAS 9 MONTHS AFTER BEING INVESTED IN THE PRODUCT AND AFTER THE CLIENT MENTIONED DISCUSSIONS OVER MY COMPENSATION WHICH WAS INACURATE WITH ANOTHER INSURANCE AGENT THAT THIS COMPLAINT AROSE.
Should I file a FINRA complaint against brokers like PAUL MARKOWSKI?
Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.
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Originally reported on November 17, 2022 @ 8:59 pm