The securities attorneys at Gana Weinstein LLP are investigating advisor Herbert Shiraishi (Shiraishi), currently registered with Independent Financial Group, LLC (Independent Financial) out of Honolulu, Hawaii and Hilo, Hawaii. According to a BrokerCheck report, Shiraishi has been subject to at least four customer complaints and one employment termination for cause during his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), many of the complaints against Shiraishi concern allegations of variable annuity sales practices.
In May 2018 a customer filed a complaint alleging that Shiraishi’s investments in variable annuities were unsuitable to the customer’s needs. The customer requested $25,500 in damages. The claim was closed.
In January 2017 a customer alleged that Shiraishi failed to disclose his purchase of a variable annuity to the customer causing $7,708 in damages. The claim was denied.