Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eric Forsman (Forsman), currently associated with LPL Enterprise, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Forsman recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $11,056.00 on December 12, 2023.
Bankers Life and Casualty Company (BLC), an affiliated insurance company, received a written complaint from the State of Wisconsin Department of Market Regulation and Enforcement, and provided a copy to Bankers Life Securities, Inc. (BLS) on December 12, 2023. In the complaint the client alleged material inaccuracies on the policy documents they received; alleging they have not met with, or spoken to the agent listed on the Premium Bonus Index Annuity (PBIA) which they purchased in February of 2022. The client has requested to surrender the annuity without penalty, and be reimbursed for damages. These allegations were determined to be unsubstantiated by the Firm. However, based on the allegations raised and to resolve any possible misunderstanding that might have occurred, BLC will allow the client to surrender the PBIA without incurring the applicable early surrender penalty. While the BLC annuity is not a security, and was issued by BLC, the Firm is reporting this complaint because the source of funding for the annuity came from the sale of securities recommended by a financial representative of the Firm.