Investor Alleges Annette Kitchen Sold Unsuitable Variable Annuities

Annette Kitchen (CRD #: 4417535), a broker registered with Equitable Advisors, allegedly recommended unsuitable annuities, according to her BrokerCheck record, accessed on October 31, 2024. Keep reading to learn more about her alleged conduct as a broker.

Investor Dispute

On August 20, 2024, an investor alleged that Annette Kitchen sold them unsuitable variable annuities in 2013 and 2022. The client further alleged that they were also sold an unsuitable Universal Life insurance (UL) policy in 2016. The investor sought $350,976 in damages but the dispute was denied by the firm.

However, investors may still be able to recover their losses after a denial by seeking out FINRA arbitration.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must take into account an investor’s age, risk tolerance, and other information described in their profile when recommending investments.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

What are 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.

Background Information

Annette Kitchen 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 6 – Investment Company Products/Variable Contracts Representative Examination

Annette Kitchen is a registered broker in 14 states and a registered investment adviser in nine states.

She has also worked for Valic Financial Advisors (CRD#:42803) and American Fidelity Securities (CRD#:11852).

Kurta Law Can Help

If you worked with Annette Kitchen 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 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.