RedFlag, Allegation and/or Complaint against PETER SHAWN HEARN
Disclosure #1 for PETER HEARN
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- Event Date: 7/25/2008
- Disclosure Type: Customer Dispute
- Disclosure Resolution: Denied
- Disclosure Detail :: Allegations: CLIENT ALLEGES SHE WAS TOLD THAT HER ANNUITIES MATURED IN DECEMBER 2007 AND TO WAIT UNTIL MATURITY TO LIQUIDATE TO AVOID A SURRENDER PENALTY. CLIENT FURTHER ALLEGES THAT SHE WAS INFORMED ABOUT A YEAR AGO THAT THE FUNDS MATURED IN 07 BUT THERE WOULD STILL BE A 4 % BACK-IN PENALTY FOR ANOTHER TWO YEARS IF THEY WERE LIQUIDATED.
- Damage Amount Requested: $20,000.00
- Arbitration Docket Number:
- Broker Comment: THE CLIENT WAS INFORMED BOTH VERBALLY AND IN WRITING, ON NUMEROUS OCCASIONS, OF THE SURRENDER CHARGES ASSOCIATED WITH THE ANNUITIES. IN A LETTER DATED JANUARY 7, 2008 ADDRESSED TO THE CLIENT, THE FA FULLY EXPLAINS THE NATURE OF THE SURRENDER CHARGES. IN ADDITION, CORRESPONDENCE RECEIVED FROM THE ANNUITY COMPANY, AS WELL AS HER QUARTERLY ANNUITY STATEMENTS, FURTHER REFERENCE THE EXISTENCE OF THE SURRENDER CHARGES ATTACHED TO THE ANNUITIES. IN SPITE OF THESE NOTIFICATIONS AND WARNINGS, THE CLIENT ELECTED TO LIQUIDATE HER ANNUITIES IN MAY 2008.
Should I file a FINRA complaint against brokers like PETER SHAWN HEARN?
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 @ 9:01 pm
