Ryan Oestreich Allegedly Facilitated Variable Annuity Surrender Leading to Losses

Ryan Oestreich (CRD #: 5575545), a broker registered with MML Investors Services, allegedly facilitated a variable annuity surrender and exchange that resulted in losses, according to his BrokerCheck record, accessed on June 28, 2023. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On April 8, 2023, an investor alleged that Ryan Oestreich recommended and facilitated the 1035 exchange and surrender of a variable annuity, resulting in losses. This allegedly occurred on or about January 25, 2021. This dispute was denied by the firm.

However, investors should know that firms can deny disputes without permitting an outside review. Investors can potentially recoup their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. An investor’s profile includes information about their tax status, risk tolerance, and financial goals.

Brokers must also ensure that their recommended investment strategies are suitable for their clients. Overconcentration in a single stock or sector is a potentially unsuitable investment strategy that can expose an investor to an unsuitable degree of risk.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of many other rules may also qualify as violations of FINRA Rule 2010.

What are Variable Annuities?

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying security. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Background Information

Ryan Oestreich has passed the following exams:

• 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

Ryan Oestreich is a registered broker in 21 states and a registered investment adviser in Pennsylvania and Texas.

Kurta Law Can Help

If you worked with Ryan Oestreich 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.