Al Lovelace Subject of a Variable Annuity Dispute

Al Lovelace (CRD #: 2393766), a broker registered with Equitable Advisors, is the subject of an investor dispute. This and three other investor disputes appear on his BrokerCheck record, accessed on October 27, 2023. Keep reading if you have questions about his alleged conduct. 

On August 23, 2023, an investor alleged that Al Lovelace provided poor advice when he recommended a variable annuity in 2019. 

The dispute was denied by the firm, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

On February 7, 2020, an investor alleged that Al Lovelace provided a guarantee when he recommended a variable annuity. This dispute was also denied. 

Two other disputes alleged misrepresentations of annuities. 

Variable Annuities

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying securities. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Background Information 

Al Lovelace has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in Arkansas, North Carolina, and South Carolina. 

During Al Lovelace’s 30-year career, he has registered with the five following firms: 

• Equitable Advisors (CRD #: 6627) 
• AXA Advisors (CRD #: 6627) 
• LPL Financial Corporation (CRD #: 6413) 
• Securities America (CRD #: 10205)
• MetLife Securities (CRD #: 14251) 
• Metropolitan Life Insurance Company (CRD #: 4095) 

Kurta Law Can Help

If you worked with Al Lovelace and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.