If Farmers Financial Solutions LLC or another investment broker has caused you significant losses, hiring an experienced attorney is the best way to recover your financial stability. Haselkorn & Thibaut attorneys have over 50 years of experience in this area and will work with you directly to ensure that all of your needs and rights are met as efficiently as possible.
Founded in 2000, the Farmers Financial Solutions LLC is the securities subsidiary of Farmers Insurance Group of Companies. The company was created by farmers and offered financial products such as mutual funds, variable universal life insurance, and other variable annuities through its network of over 5,000 registered independent agents. As a result, supervision has been difficult for Farmers because they have 5,000 employees to oversee.
Haselkorn & Thibaut is currently investigating Farmers Financial Solutions. Investors can call 1-800-856-3352 for a free consultation and information on recovering losses.
Financial Industry Regulatory Authority (FINRA) Misconduct at Farmers Financial Solutions LLC
The company considers its agents “independent contractors” and claims they do not offer investment recommendations. Nonetheless, Farmers Financial Solutions is a licensed securities brokerage firm by the Financial Industry Regulatory Authority (FINRA). Therefore, the company is legally obliged to supervise its brokers and their clients’ recommendations, ensuring compliance with regulations while preventing violations of industry rules.
When a broker is negligent or acts unlawfully against the interests of their clients, the firm can be held liable for investor losses.
Financial Industry Regulatory Authority (FIRNA) once fined Farmers Financial Solutions $125,000 for delayed disclosure about the 5,000 independent brokers it employs. With a 66% failure rate, Farmers Financial was struggling to report on time. Supervision is important to ensure that brokers are being held accountable for their actions.
FINRA recently barred longtime broker Scott Dee Barker for failing to provide documents requested in an investigation into his improper use of insurance premiums. Barker was a licensed Farmers Financial Solutions broker from 2004 to 2014. He has been permanently barred from selling securities, which prevents him from doing so legally ever again.
Who owns Farmers financial solutions?
President and chief operating officer – vice president have less than 5% Executive Officer and vice president has less than 5% vice president own. The Board of Governors owns a majority or more. Managed MEMBER shareholders have 75% – 75% of the membership. . The board member owns less than half of the board members. The President of the Board of Governors and Vice President of the Board of Directors own just under 4% and Vice President of Operating Corporation only about 4%.
The current owners are as follows:
Recover losses from Farmers financial solutions
You worked hard to earn your money, so don’t let anyone take advantage of you. If someone has defrauded or taken advantage of what is rightfully yours, be sure to seek legal advice. Many organizations help investors as they fight for the money or whatever was promised by another party.
We won millions for our clients, so you can trust that we have the experience and skill to take care of your case. We arbitrate on behalf of our clients through FINRA as well as the American Arbitration Association (AAA). We represent all types of investors worldwide who are looking for justice after being betrayed by big financial companies or their brokerages.