Patricia Ruiz Allegedly Recommended an Unsuitable Variable Annuity

Patricia Ruiz (CRD #: 1390870), a broker registered with Osaic Wealth, is the subject of an investor dispute. This is according to her BrokerCheck record, accessed on February 23, 2024. Keep reading if you have questions regarding her alleged conduct. 

Investor Dispute

On November 27, 2023, an investor alleged that Patricia Ruiz recommended an unsuitable variable annuity. The investor further alleged that the dollar amount on a check used to purchase a fixed annuity was altered. 

The dispute was denied, but investors should know that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration. 

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 

Patricia Ruiz 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 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 24 General Securities Principal Examination 

She is a registered broker in seven states and is a registered investment adviser in Georgia. 

During her 32 years of experience, Patricia Ruiz has registered with six firms: 

• Osaic Wealth (CRD #: 23131) 
• Signator Investors (CRD #: 468) 
• Signator Financial Services (CRD #: 19061) 
• Beneficial Investment Services (CRD #: 136433) 
• Lincoln Financial Securities Corporation (CRD #: 3870) 
• ProEquities (CRD #: 15708) 

Kurta Law Can Help 

If you have worked with Patricia Ruiz and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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.