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Darrell Strickland Made an Unsuitable Variable Annuity Recommendation

Darrell Strickland (CRD #: 2544052), a broker registered with Next Financial Group, allegedly violated Regulation Best Interest, according to his BrokerCheck record, accessed on September 10, 2022. If you have questions about his conduct as a broker, read on.

Investor Dispute

On June 8, 2022, an investor alleged that Darrell Strickland “was not straightforward” and failed to act in their best interest by recommending the surrender of a variable annuity that resulted in significant capital gain tax liability. This dispute is pending.

Variable annuities are complex investments and can come with expensive surrender fees. 

Regulation Best Interest

Regulation Best Interest (Reg-BI) is a Securities and Exchange Commission regulation that requires brokers to put their client’s best interests first. For instance, brokerage firms must conduct reasonable diligence to ensure that their recommendations are suitable. 

FINRA Rule 2020

FINRA Rule 2020 bans the use of fraudulent tactics, like deception or manipulation, as they relate to the purchase and sale of securities.

Tax Liens

From 2015-2017, Darrell Strickland was subject to a total of $147,666.59 in tax liens.

Background Information

Darrell Strickland 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

Darrell Strickland is a registered broker in California, Florida, North Carolina, South Carolina, and Virginia. He is also a registered investment adviser in Florida and South Carolina.

He previously worked for Wells Fargo Advisors (CRD#:19616) and Merrill Lynch Pierce Fenner & Smith (CRD#:7691).

Kurta Law Can Help

If you worked with Darrell Strickland 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.