Securities Lawyers Blog
We represent clients of financial advisors and brokerage firms in investment disputes against their firms, such as PFS Investments Inc.. Our services cover a wide spectrum of broker misconduct, including unsuitable investments, failure to supervise, and losses in various investment products. Our firm can analyze your brokerage accounts, determine the extent of your investment losses, and understand the issues and remedies available.
PFS Investments, now operating as Primerica Advisors, is a broker-dealer and investment adviser that combines insurance distribution with fee-based portfolio management for individuals and small businesses. Formed in Georgia in 1981 and headquartered at One Primerica Parkway in Duluth, Georgia, the firm is part of Primerica and serves a client base made up mostly of individual investors.
PFS Investments Inc. – By the Numbers:
- CRD #: 10111
- Regulatory Events: 22
- Arbitration Events: 2
- Broker Employees: 18,601
PFS Investments Inc. – Investment Advisors:
- SEC #: 72263
- Assets Under Management: $15,536,099,534
- ADV Form Employee: 3,992
PFS Investments Inc. – In the News:
FINRA v. PFS Investments Inc. (Case #2020068652701) – From August 2019 to July 2024, PFS Investments failed to establish and maintain a system reasonably designed to supervise the application of sales charge waivers and fee rebates to which customers were entitled through rights of reinstatement offered by mutual fund companies. Consequently, customers paid $710,738.55 in excess sales charges and fees during the relevant period. Therefore, PFS Investments violated FINRA Rules 3110(a) and 2010. For these violations, the firm is censured and required to pay $710,738.55 in restitution; no fine is imposed in light of the firm’s extraordinary cooperation.
FINRA v. PFS Investments Inc. (Case #2022074939304) – Between April 2021 and March 2023, PFSI was on notice that three of its registered representatives co-owned and operated an outside business activity (OBA). Although it maintained written supervisory procedures (WSPs) requiring representatives to disclose OBAs to the firm in writing consistent with FINRA Rule 3270, the firm did not enforce that requirement. By failing to require the representatives to submit written notice in compliance with FINRA Rule 3270, PFSI violated FINRA Rules 3110 and 2010.
Our attorneys have successfully represented hundreds of investors in investment disputes with their brokers and brokerage firms. Our consultations are free and we welcome all inquiries.