201905.21
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Fitzpatricks v. AXA Advisors

Representative Cases – A FINRA arbitration panel awarded $3.2 Million to an Alleghany County egg-farming family swindled in a variable annuity and life insurance scheme promoted by a former AXA financial advisor who was recently convicted for stealing from another elderly AXA client. The Whitesville, NY, victims were represented in the arbitration proceeding by the…

201905.07
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Axa to Pay N.Y. Egg Farmers $3.2M in Finra Award

Published by Ignites.com By Jill Gregorie May 3, 2019 — Axa Advisors must pay $3.2 million to elderly egg farmers who claim they were sold unsuitable variable annuities and life insurance policies by a Rochester, N.Y.-based broker between 2011 and 2014, a Finra arbitration panel decided last week. James and Sandra Fitzpatrick filed the claim…

201905.07
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AXA Hit With $3.2M FINRA Fine for Rogue Advisor Who Churned Products

Published by Life Annuity Specialist by Arthur D. Postal May 3, 2019 — An upstate New York broker’s decision to switch a farming family’s investments from life insurance to variable annuities may cost AXA Equitable $3.2 million. That’s how much a Financial Industry Regulatory Agency arbitration panel granted to James and Sandra Fitzpatrick, an elderly couple who used to run…

201905.03
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Victimized Family Egg Farm Awarded Record-Setting $3 Million

Published by New York AG Connection by New York AG Connection 05/03/2019 —   A FINRA arbitration panel has awarded $3.2 million to an Alleghany County egg-farming family swindled in a variable annuity (VA) and life insurance scheme promoted by a former AXA financial advisor who was recently convicted for stealing from another elderly AXA…

201905.03
1

Victimized Family Egg Farm Awarded Record-Setting $3 Million

Published by usagnet by USAgNET 05/03/2019 —   A FINRA arbitration panel has awarded $3.2 million to an Alleghany County egg-farming family swindled in a variable annuity (VA) and life insurance scheme promoted by a former AXA financial advisor who was recently convicted for stealing from another elderly AXA client. The Whitesville, NY, victims were…

201905.03
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Former employer of convicted broker fined in the past by New York state

Published by ABC 13 WHAM Rochester by Jane Flasch/WHAM Thursday, May 2nd 2019 — Rochester, N.Y. – 13WHAM reported Wednesday about a Rochester investment broker convicted of grand larceny involving one client – and ordered to pay $2.3 million to another. One of the companies that broker worked for has been fined in the past by New…

201905.02
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Finra fines AXA $600,000 over misclassified bond funds

Published by Investment News By  InvestmentNews May 2, 2019 @ 12:28 pm — Funds sold to 401(k) plans as investment grade actually held lots of junk The Financial Industry Regulatory Authority Inc. has fined AXA Advisors$600,000 and ordered the firm to pay approximately $172,000 in restitution for distributing materials that “negligently misrepresentated” five bond funds as investment…