James McDonald III Allegedly Failed to Disclose Variable Annuity’s Fees

James McDonald III (CRD #: 3172062), a broker registered with Equitable Advisors, allegedly made misrepresentations to a client, according to his BrokerCheck record, accessed on June 14, 2025. If you want to know more about his alleged conduct as a broker, read on.

Investor Dispute

On May 14, 2025, an investor alleged that James McDonald III failed to disclose fees and made misrepresentations with regard to a variable annuity purchased in 2021. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an outside review. You may be able to recover damages after a denial by pursuing FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence investors’ decisions. Misrepresenting or omitting material facts concerning an investment’s potential risks, returns, fees, or other features violates this rule.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

James McDonald III has passed the following exams:

• Municipal Securities Principal Examination – Series 53
• General Securities Principal Examination – Series 24
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

James McDonald III is a registered broker in 13 states and a registered investment adviser in Georgia, Louisiana, Michigan, and Ohio.

He has also worked for AXA Advisors (CRD#:6627) and The Equitable Life Assurance Society of the United States (CRD#:4039).

Kurta Law Can Help

If you worked with James McDonald III 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.