Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Marc Livernois (Livernois), previously associated with Cuna Brokerage Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Livernois 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 $6,979.26 on April 26, 2021.
Client is requesting interest to be paid on an annuity that was previously held and purchased on 6/26/2020. Source of funding to purchase the annuity was from non-qualified money. The account in which the annuity was held was qualified. CMFG Life Insurance Company waived the 10% early withdrawal fee based on this error and returned the clients funds-which were then moved into a non-qualified joint account. \<char_lb_r>\, \<char_lb_r>\, FCM determined interest should have been paid for the time period the fixed product was held through CMFG. Purchase amount was $354,837.71 at a yearly rate of 2.45%. Annuity was held for a total of 293 days which equals $6979.26 of interest owed to the client.