RedFlags, Allegations and Complaints against Storm Davis Rummel
Disclosure #1 for Storm Rummel
- Event Date: 12/6/2019
- Disclosure Type: Customer Dispute
- Disclosure Resolution: Denied
- Disclosure Detail :: Allegations: In a written complaint received December 6, 2019 addressed to Bankers Life and Casualty Company (BLC), an insurance company affiliate of the Firm, [REDACTED alleged that her registered representative failed to explain the early withdrawal charges associated with the purchase of a Guaranteed Lifetime Income Annuity (GLIA) from BLC in December of 2017. [REDACTED also stated that the registered representative also failed to provide her with other suitable options for her investment and that she would not be able to access her money from the BLC annuity penalty-free until she was 99. [REDACTED asked for her money to be returned from BLC with interest earned. BLC determined that the purchase of the GLIA was suitable for the client and she was aware of surrender charges. While the GLIA sold to [REDACTED was not a security and was issued by BLC, the Firm is reporting this complaint because the source of funding for the BLC annuity came from the sale of securities recommended by a registered representative of the Firm.
- Damage Amount Requested: $20,665.00
- Arbitration Docket Number:
Should I file a FINRA complaint against brokers like Storm Davis Rummel?
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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