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Elliot Berens Allegedly Misrepresented a Variable Annuity

Elliot Berens (CRD #: 5464360), a broker registered with JP Morgan Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on September 20, 2024. Details concerning this dispute are provided below. 

Investor Allegations

On July 26, 2024, an investor alleged that Elliot Berens misrepresented a variable annuity. The dispute was denied, but firms can deny disputes without any external review. Investors can still recover losses following a denial. 

Misrepresentation 

FINRA Rule 2020 prohibits 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.

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. Furthermore, the risk associated with this type of illiquid investment makes it unsuitable for many investors. 

Background Information 

Elliot Berens has passed the following exams: 

  • Series 66 – Uniform Combined State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination

He is a registered broker in 20 states and is a registered investment adviser in New Jersey. 

During his 15 years of experience, Elliot Berens has registered with three firms:

  • JP Morgan Securities (CRD #: 79) 
  • Chase Investment Services (CRD #: 25574) 
  • CitiGroup Global Markets (CRD #: 7059) 

Kurta Law Can Help 

If you worked with Elliot Berens and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.

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