Kenneth Gee Allegedly Misrepresented VUL Policy

Kenneth Gee (CRD #: 7212906), a broker formerly registered with Equitable Advisors, allegedly misrepresented an insurance policy, according to his BrokerCheck record, accessed on November 21, 2024. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On September 30, 2024, an investor alleged that Kenneth Gee misrepresented a Variable Universal Life (VUL) insurance policy as being an investment account. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an external review. It’s still possible to recover damages following a denial and investors may want to pursue FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence the purchase and sale of securities. Misrepresenting an investment’s requirements, limitations, or other features violates this rule.

What are VULs?

Unlike other forms of life insurance, Variable Universal Life insurance policies (VULs) invest a portion of investors’ premiums. These investments determine whether the policy’s value increases or decreases, so investors’ returns are not guaranteed.

Background Information

Kenneth Gee 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 previously worked for Equitable Advisors (CRD#:6627).

Kurta Law Can Help

If you worked with Kenneth Gee 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 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.