Allstate Accused Of Annuity Omissions

Jeffrey Michael Stillwell of Freehold New Jersey a stockbroker formerly employed by Allstate Financial Services, LLC is referenced in a customer initiated investment related written complaint on January 17, 2018 where the customer requested $149,271.00 in damages supported by accusations that Stillwell supposedly failed to inform the customer that the customer’s variable annuity income riders would stop growing in value if multiple withdrawals were executed from the account (sounds rather obvious).

Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Stillwell was referenced in two more customer initiated investment related disputes pertaining to allegations of his violative conduct during the period that he was registered with Allstate Financial Services LLC and AXA/Equitable. Specifically, on August 31, 2001, a customer initiated investment related complaint regarding Stillwell’s activities was settled to resolve accusations that the customer’s variable life insurance policy face value was modified without the customer’s consent.

Then, on April 6, 2016, a customer filed an investment related complaint involving Stillwell’s activities in which the customer sought more than $5,000.00 in damages based upon allegations that mutual fund A shares, rather than C shares, had been purchased in the customer’s investment portfolio, causing the customer to incur undue sales charges.

Stillwell’s registration with Allstate Financial Services, LLC was terminated on September 15, 2015. Since September 11, 2015, Stillwell has been employed by Ameriprise Financial Services, Inc.

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