National investment loss lawyers KlaymanToskes is investigating Fidelity Brokerage Services and financial advisors who may have unsuitably recommended investments in annuities that were inappropriate based on customers’ risk tolerance, liquidity needs, and/or financial goals. The focus of the investigation is Fidelity’s Altamonte Springs, Florida branch, located at 175 East Altamonte Drive, Suite 1000, which services investors throughout the greater Orlando area.
If you suffered losses after purchasing an annuity through Fidelity and your financial advisor, contact securities attorney Steven D. Toskes at (888) 997-9956 or investigations@klaymantoskes.com in furtherance of our investigation.
KlaymanToskes is currently investigating alleged unsuitable sales of annuities to customers at Fidelity Brokerage Services’ Altamonte Springs, Florida branch. Recently, Fidelity Brokerage Services was hit with a customer complaint which alleged that an advisor improperly recommended liquidating the customer’s existing investments to purchase a fixed annuity. The investor alleged that this recommendation from their financial advisor, Mark Maldonado (CRD# 2494010), led to unnecessary capital gains tax liability and the loss of reliable dividend income, resulting in $250,000 in investor damages. This complaint was denied by the brokerage firm, however, it is important to know that brokerage firms routinely deny disputes, forcing the customer to take action. Investors may still pursue a FINRA arbitration claim to recover their investment losses by contacting KlaymanToskes.
Annuities are long-term investment vehicles, often marketed as retirement income solutions. However, they frequently come with high commissions, long lock-up periods, and steep surrender penalties. When sold improperly, annuities can expose investors to unnecessary fees or tax penalties, result in missed opportunities for better-performing investments, and lead to significant financial harm for retirees or conservative investors.
Investors who were not fully informed or who had their financial information, including net worth and/or risk tolerance, misstated by a financial advisor may have grounds to file a FINRA arbitration claim to recover losses.
As an investor, there are signs that you should look out for if you believe you have a claim against your broker/advisor for unsuitable investment recommendations in Fidelity Annuities. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered investment losses as a result of a recommendation to purchase an annuity from Fidelity’s Altamonte Springs (Orlando-area) branch, contact KlaymanToskes today at (888) 997-9956 or investigations@klaymantoskes.com in furtherance of our investigation.