Lawrence Moskowitz Allegedly Failed to Fully Inform Clients About Variable Annuities
Lawrence Moskowitz (CRD #: 5865328), a broker registered with Park Avenue Securities, was recently involved in an investor dispute, according to his BrokerCheck record, accessed on April 20, 2023. If you have questions about his alleged conduct as a broker, keep reading.
On March 16, 2023, an investor alleged that he purchased a variable annuity in 2015, based on Lawrence Moskowitz’s claim that his principal would double in 10 years regardless of market performance.
The client further alleged that Lawrence Moskowitz never disclosed that the client would not be able to collect all his funds at once at the end of this 10-year period. The investor sought $325,000 in damages but the dispute was denied by the firm.
On January 28, 2022, an investor alleged that Lawrence Moskowitz failed to inform him of the surrender charges and management fees associated with a Jackson National variable annuity purchased in 2020. The firm denied the dispute.
Investors should be aware, however, that firms don’t need to allow an outside review before denying a dispute. Investors may still be able to recover their losses by pursuing FINRA arbitration after a denial.
FINRA Rule 2020
FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. Misrepresenting or omitting facts about an investment’s limitations, risks, or 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.
Lawrence Moskowitz has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Lawrence Moskowitz is a registered broker in eight states and a registered investment adviser in seven states.
Kurta Law Can Help
If you worked with Lawrence Moskowitz and you have concerns about your investments, please contact us today at 877-600-0098 or email@example.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.