Richard Zientarski is the Subject of a Variable Annuity Dispute

Richard Zientarski (CRD #: 1093488), a broker registered with Planmember Securities Corporation, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on February 23, 2024. Details concerning this dispute are provided below. 

Variable Annuity Investor Dispute

On November 30, 2023, an investor alleged that Richard Zientarski misrepresented a variable annuity as a liquid savings investment. Instead, the investor discovered that the variable annuity was subject to both surrender charges and market losses. The investor is seeking $58,000. 

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. 

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees. Brokers must always disclose the risks associated with illiquid investments, such as early withdrawal fees. 

Background Information 

Richard Zientarski has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in Florida, Georgia, North Carolina, and Ohio. 

During his 32 years of experience, he has registered with the following firms: 

• Planmember Securities Corporation (CRD #: 11869) 
• National Planning Corporation (CRD #:29604)
• FSC Securities Corporation (CRD #: 7461)
• Pan-American Financial Advisers (CRD #: 15578)
• American Capital Corporation (CRD #: 16124)
• Securities Service Network (CRD #: 13318)
• Mariner Financial Services (CRD #: 8292)
• Washington National Equity Company (CRD #: 4242)

Kurta Law Can Help 

If you have worked with Richard Zientarski 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.