The seriousness of allegations in the financial world cannot be overstated, especially when they involve financial advisors and investment firms. A recent case that underscores this involves Marc Sheridan, a broker and investment advisor currently associated with EQUITABLE ADVISORS, LLC.
Allegation’s Seriousness and Case Information
Table of Contents
On September 5, 2023, a pending customer dispute was lodged against Marc Sheridan. The customer alleges that Sheridan misrepresented the terms of a Variable Annuity (VA) policy sold in 2021. The case, referenced under the FINRA CRD number 5495006, is currently under investigation by Haselkorn & Thibaut, a national investment fraud law firm.
Sheridan has been associated with EQUITABLE ADVISORS, LLC (CRD 6627) since August 19, 2008. His roles include both broker and investment advisor, with a focus on Variable Annuity (N1010NN) products. Misrepresentation of such a product’s terms can have severe financial implications for the investor involved.
Explanation in Simple Terms and the FINRA Rule
The allegation against Sheridan involves the misrepresentation of a Variable Annuity policy. In simple terms, this means that the customer was given inaccurate or misleading information about the policy’s terms, potentially leading to financial loss or damage.
Such behavior is a clear violation of the Financial Industry Regulatory Authority (FINRA) Rule 2111, which requires brokers to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer. Misrepresentation of any product or service’s terms is a breach of this rule.
Why It Matters for Investors
Allegations of this nature are of paramount importance to investors. Misrepresentation can lead to significant financial losses and can erode trust in financial advisors and investment firms. It is crucial for investors to understand the terms of any financial product or service they are purchasing fully.
Investors should feel confident that their financial advisors are acting in their best interests. Any breach of this trust can have serious consequences, both financially and emotionally.
Red Flags for Financial Advisor Malpractice and How Investors Can Recover Losses
Investors should be aware of several red flags that could indicate financial advisor malpractice. These include frequent and unnecessary trades, unsuitable investment recommendations, and misrepresentation of investment terms.
If investors suspect malpractice, they have several avenues to recover their losses. One of these is through FINRA arbitration, a process designed to resolve disputes between investors and brokers or investment firms.
Haselkorn & Thibaut specializes in helping investors recover losses through FINRA arbitration. With offices in Florida, New York, North Carolina, Arizona, and Texas, the firm has over 50 years of experience and an impressive 98% success rate. They offer a “No Recovery, No Fee” policy and free consultations to clients. Investors can reach them at their toll-free number, 1-800-856-3352.
Financial allegations are a serious matter that can have far-reaching implications for investors. It is crucial to seek professional assistance in such cases to ensure that justice is served and losses are recovered.
