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Stefan Tunaru Allegedly Recommended Unsuitable Annuity Rollovers

Stefan Tunaru (CRD #: 5570657), a broker registered with Equity Services, is involved in a pending dispute, according to his BrokerCheck record, accessed on May 26, 2023. If you want to know more about his alleged conduct as a broker, read on.

Investor Dispute

On March 20, 2023, an investor filed a dispute alleging that Stefan Tunaru recommended she rollover contributions to her variable annuity in April and June 2022 and that these recommendations were unsuitable given her age and retirement status.

This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles, which describe characteristics such as their age, tax status, and financial goals.

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

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

Stefan Tunaru 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

Stefan Tunaru is a registered broker in six states.

He has also worked for NYLIFE Securities (CRD#:5167).

Kurta Law Can Help

If you worked with Stefan Tunaru 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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