SII Accused By Customer Of Annuity Misrepresentation
Joel Howard Weber of Saint Cloud Minnesota a stockbroker formerly registered with SII Investments, Inc. is the subject of a customer initiated investment related written complaint on April 2, 2018 where the customer requested $69,220.00 in damages based upon accusations that misrepresentations had been made to the customer concerning a variable annuity income benefit.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Weber has been identified in four more customer initiated investment related disputes containing allegations of Weber’s wrongdoing while employed by SII Investments and Franklin Financial Services Corporation. Particularly, on March 5, 2008, a customer initiated investment related complaint concerning Weber’s conduct was resolved for $54,000.00 in damages founded on accusations that Weber was misled in reference to the liquidation of mutual funds and investment of the proceeds in a fixed indexed annuity.
On June 4, 2009, another customer filed an investment related complaint pertaining to Weber’s conduct in which the customer sought $100,000.00 in damages based upon allegations that the customer was placed into a variable universal life insurance policy by being led to believe that the policy would not require the customer to make additional premium payments to keep the policy in force.
Then, on October 17, 2012, a customer brought an investment related complaint involving Weber’s activities where the customer requested $87,094.02 in damages founded on accusations of misrepresentation in reference to a variable annuity purchased by the customer. Another customer initiated investment related complaint regarding Weber’s activities was settled on March 23, 2015 for $339,049.69 in damages based upon allegations that Weber misrepresented the guaranteed minimum income benefit on the customer’s variable annuity.
Weber’s employment with SII Investments Inc. was terminated on October 19, 2017. Since then, he has been employed by Securities America, Inc.
The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.
This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com