Investor Alleges Jeffrey Wedgeworth Misrepresented Annuity’s Benefits

Jeffrey Wedgeworth (CRD #: 5100786), a broker registered with Equitable Advisors, allegedly misrepresented a variable annuity, according to his BrokerCheck record, accessed on March 28, 2023. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On January 17, 2023, an investor alleged that Jeffrey Wedgeworth misrepresented the benefits of a variable annuity purchased by the client in 2018. This dispute is currently pending.

On April 18, 2016, an investor filed a dispute alleging that Jeffrey Wedgeworth misrepresented an annuity to the client’s mother in 2014. This dispute was denied by the firm.

However, investors should know that firms don’t need to allow an external review before denying a dispute. Investors can still seek out FINRA arbitration after a denial and may be able to recover their losses.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of manipulative, deceptive, or otherwise fraudulent tactics to influence investors’ decisions. Misrepresenting an investment’s requirements, limitations, or other features violates this rule.

What are variable annuities?

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying security. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Tax Lien

On September 25, 2019, Jeffrey Wedgeworth incurred a tax lien of $28,594.42.

Background Information

Jeffrey Wedgeworth has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Jeffrey Wedgeworth is a registered broker in eight states and a registered investment adviser in Florida, New Jersey, New York, Pennsylvania, and Texas.

He previously worked for Edward Jones (CRD#:250).

Kurta Law Can Help

If you worked with Jeffrey Wedgeworth 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.