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Rick Willis Fired from Woodmen Financial Services

Rick Willis (CRD #: 4527829), a broker formerly registered with Woodmen Financial Services, was fired from that firm, according to his BrokerCheck record, accessed on September 19, 2022. If you want to know more about his conduct as a broker, keep reading.

Discharge from Woodmen Financial Services

On June 7, 2022, Rick Willis was fired from Woodmen Financial Services, allegedly following a client complaint involving the exchange of the client’s WoodmenLife Variable Annuity, issued in 2007, for another WoodmenLife Variable Annuity issued in May 2021.

The client allegedly expressed concerns about the performance and features of the 2007 annuity and the death benefit guarantee of the 2021 annuity.

Variable annuities are complex investments, and exchanges often have unforeseen consequences for investors. FINRA Rule 2330 requires brokers to inform their investors of the features of a variable annuity before an exchange, including any surrender charges or tax implications. 

Background Information

Rick Willis 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 has also worked for Woodmen Financial Services (CRD#:117365).

Kurta Law Can Help

If you worked with Rick Willis and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.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. 

 

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