Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eric Luckey (Luckey), currently associated with Stonex Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Luckey 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 $125,000.00 on October 04, 2023.
Claimants allege the Financial Advisor, under the supervision of SA Stone, were advised to transfer the Anchor Advisor II Variable Annuity (with a guaranteed death benefit) to a “1 year fixed” annuity. Claimants allege the Financial Advisor represented the fixed annuity would pay a lump sum death benefit (same as the variable) at time of death while providing a consistent income stream for [REDACTED] in her final days (Approx. $1206.80 per month starting in April 2021). Upon the death of [REDACTED], the claimants allege learning of no lump sum payment, only monthly payments instead for the next 18+ years. Claimants are requesting $125000.00 in damages.