Keith Wells Allegedly Misrepresented a Variable Annuity Policy

Keith Wells (CRD #: 6467298), a broker registered with Equity Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 28, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations

On March 12, 2024, an investor alleged that Keith Wells allegedly misrepresented a variable annuity policy, including the actions necessary to preserve and maintain the guaranteed minimum death benefit and guaranteed minimum income benefit provided through the variable annuity. 

FINRA Rule 2020 – Misrepresentation

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

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. Furthermore, the risk associated with this type of illiquid investment makes it unsuitable for many investors. 

Background Information 

Keith Wells 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 7 General Securities Representative Examination 

He is a registered broker in five states and is a registered investment adviser in Pennsylvania. 

Keith Wells has seven years of experience and has registered with four firms: 

• Equity Services (CRD #: 265) 
• Prudential Financial Planning Services (CRD #: 5685) 
• Pruco Securities (CRD #: 5685) 
• Morgan Stanley (CRD #: 149777) 

Kurta Law Can Help 

If you have worked with Keith Wells and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.