David Cohen Involved In AXA Disputes

AXA Equitable Broker David Cohen Targeted In Disputes Alleging Unsuitable Recommendations

The Financial Industry Regulatory Authority (“FINRA”) reports troubling information regarding securities broker David Allan Cohen (CRD#: 4531744, Rockville, Maryland). Apparently, the securities broker, who worked for AXA Advisors LLC between 2002 and 2017, reports at least three investor disputes. Notably, one or more investors has alleged that Cohen made unsuitable recommendations resulting in damages. Let’s take a closer look at the allegations against the securities broker.

Equitable Advisors Client Alleges Unauthorized Transaction In Dispute About David Cohen

Evidently, a client of Equitable Advisors came forward to dispute David Cohen’s sales practices. Mainly, the client alleged in this September 2020 dispute that a loan had been taken against their insurance policy that they held at Equitable Advisors. It seems that the client may not have authorized a loan to be taken by Cohen’s office. However, Equitable Advisors denied this dispute in November 2020. It is unclear what the client will do next.

Cohen Supposedly Gives Unsuitable Recommendations To AXA Client Regarding Insurance

Also, a client of AXA Equitable disputed David Cohen’s sales practices in a January 2017 lawsuit. Supposedly, Cohen made a bad recommendation to a client regarding both an insurance policy and an annuity that the client purchased in 2016. It is possible that Cohen did not take the client’s goals, needs or other suitability criteria into consideration when making recommendations. To resolve allegations of unsuitability, AXA Advisors agreed to pay the client $34,250. Evidently, this matter settled in February 2018.

AXA Advisors Client Indicates That David Cohen’s Advice Regarding Insurance Was Not Suitable

Moreover, an AXA Advisors client brought a FINRA Arbitration Claim about David Cohen in September 2016. Similar to the other AXA disputes, this client alleged that Cohen made an unsuitable recommendation. It seems that he failed to have good reason to believe that it was appropriate for the client to buy incentive life insurance. For this reason, the client received $8,500 to settle the matter.

Have You Experienced Losses From David Cohen?

Supposedly, David Cohen denies allegations of his sales practice violations. Have you experienced losses by investing with this person? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have been wronged by their securities brokers or financial advisors.