Christopher Rhyne Allegedly Misrepresented an Index Annuity

Christopher Rhyne (CRD #: 4524132), a broker registered with Woodbury Financial Services, is facing an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 22, 2023. Details concerning the dispute are provided below. 

On July 18, 2023, an investor alleged that Christopher Rhyne misrepresented an index annuity at the time of purchase. The dispute was denied, 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.

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments or omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees. Brokers must always disclose the risks associated with illiquid investments, such as early withdrawal fees. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Misrepresentation also violates this rule. 

Background Information 

Christopher Rhyne 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 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in nine states and is a registered investment adviser in North Carolina and South Carolina. 

During his 20 years of experience, he has registered with two firms: Woodbury Financial Services (CRD #: 421) and MML Investors Services (CRD #: 10409). 

Kurta Law Can Help

If you worked with Christopher Rhyne 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.