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Paul Southard Allegedly Misrepresented a Variable Annuity

Paul Southard (CRD #: 1291554), a broker registered with Equitable Advisors, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on July 29, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Disputes

On May 8, 2024, an investor alleged that Paul Southard misrepresented a variable annuity sold in 2021. 

Misrepresentation 

FINRA Rule 2020 prohibits the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

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 

Paul Southard 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 

He is a registered broker in 12 states and is a registered investment adviser in nine states.

Paul Southard has registered with the following firms: 

  • Equitable Advisors (CRD #: 6627) 
  • The Equitable Life Assurance Society of the United States (CRD #: 4039) 
  • Mony Securities Corp (CRD #: 4386) 
  • The Mutual Life Insurance Company of New York (CRD #: 2873) 

Kurta Law Can Help 

If you have worked with Paul Southard 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. 

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