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John Alexander Subject of VUL Dispute

John Alexander (CRD #: 7048756), a broker registered with First Heartland Capital in Chesterfield, Missouri, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on November 7, 2023. Details are provided below. 

On August 3, 2023, an investor alleged John Alexander misinformed her regarding a Variable Universal Life insurance policy (VUL). 

Variable Universal Life Insurance

A Variable Universal Life insurance policy (VUL) has two notable features: a tax-free death benefit for beneficiaries and an investment portfolio. Part of each premium payment is invested—but returns depend on the performance of these investments, so the policy is not guaranteed to increase in value. Additionally, VULs are often at risk of lapsing, which negates their purported tax benefits.

FINRA Rule 2020 – Misrepresentation

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

FINRA Rule 2010

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 

John Alexander has passed the following exams: 

  • Series 63 Uniform Securities Agent State Law Examination 
  • Series 6TO Investment Company Products Variable Contracts Representative Examination 
  • SIE Securities Industry Essentials Examination 

He is a registered broker in Illinois, Texas, and Missouri. 

John Alexander has registered as a broker in First Heartland Capital (CRD #: 32460) and NYLife Securities (CRD #: 5167). 

Kurta Law Can Help

If you worked with John Alexander and 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.

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