Julia Hsiao Named in Dispute Involving Variable Annuities
Julia Hsiao (CRD #: 2994866), a broker registered with NYLIFE Securities, is involved in a pending dispute, according to her BrokerCheck record, accessed on May 3, 2023. Investors may have also engaged her services through Eagle Strategies. Keep reading if you have questions about her alleged conduct as a broker.
Investor Dispute
On February 22, 2023, an investor named Julia Hsiao in a dispute alleging that the client unknowingly purchased two variable annuities in December 2021. The dispute further alleges that these annuities have 8-year surrender charge periods and were purchased with funds from the client’s matured fixed annuity.
The dispute settled for $55,914.46.
FINRA Rule 2020
FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent methods to influence investors’ decisions. Misrepresenting or omitting facts about investments, such as their features or potential returns, 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
Julia Hsiao 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 6 – Investment Company Products/Variable Contracts Representative Examination
Julia Hsiao is a registered broker in eight states and a registered investment adviser in California.
Kurta Law Can Help
If you worked with Julia Hsiao 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.