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Raphael Leite Involved in a Variable Universal Life Insurance Policy

Raphael Leite (CRD #: 6609982), a broker registered with Equitable Advisors, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 20, 2024. Investors may have accessed his services through Klara Financial Strategy. 

Investor Allegations 

On August 2, 2024, an investor alleged that Raphael Leite misrepresented the fees and surrender penalties associated with a Variable Universal Life insurance policy. 

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.

VULs

Variable Universal Life insurance policies (VULs) have two major features: a tax-free death benefit for beneficiaries and the investment of investors’ premiums. Because the value of a VUL policy depends on the performance of these investments, it’s not guaranteed to increase in value over time. Additionally, you’ll lose a VUL’s tax benefits if it lapses. 

Background Information 

Raphael Leite has passed the following exams: 

  • Series 66 – Uniform Combined State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination

Kurta Law Can Help 

If you worked with Raphael Leite and you 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.

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