Shaun Horan Allegedly Failed to Explain Features of Variable Annuity

Shaun Horan (CRD #: 2867195), a broker registered with Park Avenue Securities, allegedly failed to fully explain an investment, according to his BrokerCheck record, accessed on January 10, 2023. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On October 14, 2022, an investor alleged that Shaun Horan failed to fully explain a 7-year withdrawal charge and inability to withdraw from the contract associated with a Jackson National variable annuity. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without allowing an external review. Investors can still pursue FINRA arbitration and potentially recover their losses following a denial.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, or other fraudulent tactics to influence investors’ decisions. Misrepresenting an investment’s features, risks, or potential returns violates this rule.

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

Shaun Horan 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

Shaun Horan is a registered broker in 15 states and a registered investment adviser in seven states.

He has also worked for Guardian Investor Services (CRD#:6635).

Kurta Law Can Help

If you worked with Shaun Horan 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.