radient Securities Customers File Complaints Over Annuities Losses With Broker Jack Howard Owens Jr.
Jack Howard Owens, Jr. (CRD #2240940, Lady Lake, Florida), who has been registered with Gradient Securities, LLC between December 10, 2009 and June 1, 2018, disclosed via the Financial Industry Regulatory Authority (“FINRA”) BrokerCheck his involvement in activities giving rise to a customer-initiated investment-related complaint dated April 19, 2018. According to the customer, from March 2017 to April 2018, misrepresentations were made about the features of variable annuity investments. The customer has apparently alleged more than $5,000.00 in damages.
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Owens has disclosed six other customer disputes on FINRA BrokerCheck in which customers have collectively alleged unsuitability and misrepresentation. For example:
- On September 8, 2010, a Legacy Financial Services customer filed an arbitration alleging that Owens falsely stated that the customer’s American Skandia variable annuity contained a death benefit that would remain in force for life; the death benefit lasted merely ten years. Owens settled with the customer for $14,999.99 in damages. (FINRA Arbitration Case #10-03503).
- On September 26, 2013, a complaint was filed by a Gradient Securities customer who alleged that Owens misrepresented the terms and conditions of replacing a variable annuity with a fixed indexed annuity. The customer agreed to settle the matter for $180,000.00 in damages on November 20, 2013.
- On April 6, 2018, a Gradient Securities customer lodged an arbitration alleging that the customer incurred unwarranted losses and surrender penalties in connection with a variable annuity liquidation. At least $150,000.00 in damages has been alleged by the customer. (FINRA Arbitration Case #18-01227).
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Owens has additionally disclosed four regulatory actions in which he has been sanctioned for misconduct. Specifically:
- On February 21, 2008, Florida Office of Financial Regulation executed an Order adopting a Stipulation and Consent Agreement containing findings that Owens utilized unapproved sales and advertising literature and made false, unwarranted, exaggerated or misleading statements to the investor public. The Office found Owens to have violated Fla. Stat. 517.161(1)(H) and Florida Administrative Code Rule 69W-600.013(2)(H). Sanctions against Owens included a suspension and a $10,000.00 fine. (Florida Office of Financial Regulation Case #0353-S-8/07).
Gradient Securities Jack Howard Owens Jr.
- On May 3, 2013, Florida Department of Financial Services issued a Consent Order which contained findings that Owens recommended that a senior Florida investor exchange an acceptable annuity with another annuity that had not been suitable. Owens was required to pay a $3,000.00 fine. (In the Matter of: Jack Howard Owens, Case #131832-13-AG).
Have you experienced losses from Jack Howard Owens, Jr. or other registered representatives who have misrepresented or sold you unsuitable investments? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about possibly recovering your investment losses. Soreide Law Group represents clients nationwide and only charges a fee upon recovery of investment losses.