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William O’Brien Involved in a Variable Universal Life Insurance Policy Dispute

Aug 21, 2023 Misrepresentation

William O’Brien (CRD #: 1075392), a broker registered with Cetera Advisors, is involved in a VUL dispute, according to his BrokerCheck record, accessed on August 18, 2023. Keep reading if you have questions about his conduct as a broker. 

On June 20, 2023, an investor alleged that she understood a Variable Universal Life insurance policy would provide a guaranteed amount and that the premium payment would always remain the same. 

What is a Variable Universal Life Insurance Policy (VUL) 

Variable Universal Life insurance policies (VULs) differ from other forms of life insurance because they invest a portion of investors’ premiums. Whether a VUL increases or decreases in value depends on the performance of its investments, so returns are not guaranteed.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of material information, such as an investment’s potential returns, risks, or limitations.

Background Information 

William O’Brien 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 

He is a registered broker and investment adviser in Florida and Massachusetts. He is also a registered broker in Illinois. 

William O’Brien has registered with the following firms: 

  • Cetera Advisors (CRD #: 10299) 
  • Commonwealth Financial Network (CRD #: 8032) 
  • NYLife Securities (CRD #: 5167) 
  • Eagle Strategies Corp (CRD #: 110826) 
  • Equico Securities (CRD #: 6627) 
  • The Equitable Life Assurance Society of the United States (CRD #: 4039) 

Kurta Law Can Help

If you worked with William O’Brien and you have concerns about your investments, please contact us today at 877-600-0098 or 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 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.