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Judson Miller Allegedly Misrepresented Unsuitable Variable Annuity

Judson Miller (CRD #: 5712338), a broker registered with Principal Securities, allegedly recommended an unsuitable investment product, according to his BrokerCheck record, accessed on February 8, 2023. If you want to know more about his alleged conduct as a broker, keep reading.

Investor Dispute

On August 8, 2022, an investor filed a dispute alleging that Judson Miller made an unsuitable recommendation of a variable annuity and misrepresented it to the client. This dispute was denied by the firm.

However, investors should know that firms can deny disputes without permitting an external review. Investors can still seek out FINRA arbitration following a denial and may be able to recover their losses.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must consider the information in the investor’s profile, such as their age, tax status, and risk tolerance when recommending investments.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deception, manipulation, and other fraudulent means of influencing the purchase or sale of securities. 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.

Background Information

Judson Miller has passed the following exams:

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

Judson Miller is a registered broker in 14 states.

He previously worked for EquiTrust Marketing Services (CRD#:5309).

Kurta Law Can Help

If you worked with Judson Miller and you have concerns about your investments, please contact us today at 877-600-0098 or 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.