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James Cassa Subject of a Variable Annuity Dispute

James Assa (CRD #: 2655896), a broker registered with LPL Financial, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on May 24, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations

On March 19, 2024, investors alleged that James Assa suffered unexpected tax liabilities as a result of investment recommendations to surrender their variable annuities. 

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.

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and potential tax liabilities. 

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2020 also violate this rule. 

Background Information 

James Assa 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 31 Futures Managed Funds Examination 
  • Series 7 General Securities Representative Examination 
  • Series 6 Investment Company Products/ Variable Contracts Representative Examination 

He is a registered broker in 15 states and is a registered investment adviser in New Jersey. 

Kurta Law Can Help 

If you have worked with James Cassa and 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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