National investment loss and securities attorneys KlaymanToskes are investigating Florida-based brokerage firm AAG Capital and its financial advisors after the Financial Industry Regulatory Authority (“FINRA”) imposed a $138,000 penalty for supervisory failures related to registered index-linked annuity (RILA) recommendations. The enforcement action includes a $100,000 fine and over $38,000 in restitution to harmed investors. Investors who suffered losses at AAG Capital may be eligible to recover damages through the filing of a FINRA arbitration claim.
If you suffered losses due to supervisory failures or unsuitable investment recommendations at AAG Capital, contact securities attorney Steven D. Toskes to discuss your recovery options at (888) 997-9956 or by email at investigations@klaymantoskes.com for a free and confidential consultation to discuss your potential recovery options.
According to FINRA’s Letter of Acceptance, Waiver, and Consent, AAG Capital violated Regulation Best Interest (Reg BI) and key FINRA supervisory rules by failing to implement written policies, procedures, and a supervisory system tailored to the recommendation and exchange of complex registered index-linked annuities (RILAs). From February 2021 to present, the firm’s annuity business reportedly exclusively involved the sale of RILAs—totaling over $92 million across 479 transactions—yet its compliance systems were not designed to ensure these recommendations were in customers’ best interest.
Among the 41 RILA purchases that involved replacing existing annuity or life insurance products:
The firm’s supervisory failures as reported by FINRA included:
Registered index-linked annuities (RILAs) are investment products that combine market exposure with a limited form of downside protection. These products are often marketed as offering growth potential with reduced risk. However, they are highly complex and not suitable for all investors—especially when replacing traditional annuities or insurance policies that offer guaranteed death or income benefits.
In 2024, RILA sales reportedly reached $65.4 billion, up 38% from the previous year. With this growth, regulatory scrutiny has increased due to concerns about unsuitable recommendations and improper disclosure of investment risks.
KlaymanToskes is currently investigating on behalf of investors who were sold RILAs without proper consideration of their financial goals, risk tolerance, or existing benefits. Brokerage firms that recommend complex annuity products without fully explaining the risks—or fail to supervise their financial advisors—can be held liable through FINRA arbitration.
If you were sold a RILA or other investment by AAG Capital, or any other full-service brokerage firm, and you experienced significant losses due to surrender charges, lost benefits, or underperformance, contact KlaymanToskes at 888-997-9956 or fill out a short contact form to discuss potential recovery options. We offer free and confidential consultations, and represent investors nationwide in FINRA arbitration claims to recover losses caused by financial advisor misconduct.