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Alan Margolies Allegedly Misrepresented Variable Life Insurance Policy

Jun 21, 2022 Misrepresentation

Alan Margolies (CRD #: 1442195), a broker registered with Equitable Advisors, allegedly made a misrepresentation, according to his BrokerCheck record, accessed on June 11, 2022. If you have questions about Alan Margolies’ conduct as a broker, read on.

Alleged Misrepresentation

On April 26, 2022, an investor alleged that Alan Margolies misrepresented the terms of a variable life insurance policy sold to the client in 2021. This dispute was denied by the firm.

However, investors should be aware that firms can deny disputes without an outside review. Investors can still seek out FINRA arbitration following a dispute and potentially recover their losses.

FINRA Rule 2020

The misrepresentation or omission of information concerning investments violates FINRA Rule 2020, which prohibits the use of manipulative, deceptive, and otherwise fraudulent means of influencing investors’ decisions.

Background Information

Alan Margolies has passed the following exams:

  • Series 65 - Uniform Investment Adviser Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 51 - Municipal Fund Securities Principal Examination
  • Series 24 - General Securities Principal Examination

Alan Margolies is a registered broker in New Jersey, New York, and Pennsylvania. He is also a registered investment adviser in New Jersey and New York.

He has also worked for the following firms:

  • Signator Investors (CRD#:468)
  • John Hancock Mutual Life Insurance Company (CRD#:5181)
  • Hartford Equity Sales Company (CRD#:6604)
  • Reliastar Financial Marketing Corporation (CRD#:4234)
  • Nathan & Lewis Securities (CRD#:8503)
  • A. F. Best Securities (CRD#:14335)

Kurta Law Can Help

If you worked with Alan Margolies and you 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 and 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.