AXA Advisors, Equitable Advisors Clients Bring Complaints About Douglas Keller
Soreide Law Group provides you with an update on the disclosures pertaining to securities broker Douglas Eugene Keller (CRD#: 1272529, Red Bank, New Jersey). Specifically, there are investor disputes and regulatory sanctions involving the securities broker, who worked for firms including AXA Advisors (2008 to 2017). In addition, but AXA Advisors disaffiliated with Keller for allegedly violating policy. Here’s more about these disclosures about Keller.
Equitable Advisors Client Alleges Misrepresentation By Douglas Keller Regarding Insurance
Evidently, a client of Equitable Advisors showed dissatisfaction with Douglas Keller’s sales practices. In the August 2020 dispute, the client claimed that the securities broker misrepresented insurance policy fees. Also, the client alleged that there were misrepresentations about the insurance product’s surrender schedule. It appears that Equitable Advisors opted to settle with the client through compensating them.
FINRA Issues Suspension, Fine To Keller For Life Insurance Policy Sales At AXA Advisors
It appears that Douglas Keller agreed to a $5,000 fine and a suspension as securities broker for three months to resolve FINRA’s allegations that he violated FINRA rules by privately selling insurance policies. Mainly, FINRA argued that Keller sold 14 policies through a company that was not affiliated with AXA Advisors. Supposedly, AXA did not allow for brokers to sell insurance products that they did not approve of.
Supposedly, Douglas Keller sold indexed life insurance policies. Some of those people who purchased the indexed life insurance policies were AXA Advisors clients. Purportedly, Keller falsely responded to AXA’s compliance questionnaire regarding his solicitation of insurance products privately.
AXA Advisors Client Alleges That Douglas Keller Misrepresented Information In Connection With Life Insurance Policy Transaction
BrokerCheck also shows that a client of AXA Advisors disputed Douglas Keller’s sales practices in October 2017. Evidently, Keller sold the client a variable life insurance policy that replaced the client’s whole life insurance policy. It appears that the securities broker’s misrepresentation caused losses. However, AXA Advisors denied this client’s dispute.
AXA Advisors Disaffiliates With Keller
In a May 2017 disclosure, AXA reportedly disaffiliated with Douglas Keller for allegedly violating policy. The firm referred to Keller allegedly selling indexed universal life insurance away from AXA after he had represented that he was not doing this. Supposedly, Keller’s outside business activity was unapproved.
Securities Broker Allegedly Made Unsuitable Recommendation To AXA Client
Moreover, an AXA Advisor client dispute from 2016 concerns an allegedly unsuitable recommendation of a variable life insurance policy. Supposedly, Douglas Keller supported the sale of the insurance product at AXA Advisors. Evidently, the securities firm denied this dispute.
Did You Suffer Damages From Douglas Keller?
Did you experience losses because of securities broker Douglas Keller (aka Douglas Savery)? If so, call Soreide Law Group at (888) 760-6552 and speak with a helpful securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has helped investors across the United States recover losses caused by financial advisors and securities brokers. Evidently, Keller denies all allegations of his sales practice violations.