JOEL WEBER Allegedly Misrepresented Annuities

SII Clients Indicate Broker Joel Weber Misrepresented Annuity Income Riders

Soreide Law Group is investigating potential investor claims of misrepresentation against securities broker Joel Howard Weber [CRD#: 1717681, Sartell, Minnesota]. Evidently, Financial Industry Regulatory Authority (“FINRA”) BrokerCheck reports that five clients complained about the broker, who associated with SII Investments from 2002 to 2017 and who joined Securities America, Inc. on October 19, 2017. Notably, clients of SII suggest that Weber falsified or misrepresented important facts about annuities and income riders. The following contains a summary of some alarming disclosures concerning Weber:

Weber Allegedly Misrepresents Annuity’s Income Benefit

Apparently, on March 22, 2018, an SII client made a formal complaint concerning Joel Weber. Apparently, the client contended that Weber misrepresented an income benefit on a variable annuity. It appears that the client could have been persuaded to purchase the annuity or rider(s) because of Weber’s misrepresentations. For this reason, on June 27, 2018, SII agreed to pay the client $69,220 in compensation in order to settle the matter.

SII Client Indicates That Joel Weber Made False Statements About Guaranteed Income Benefit

Evidently, a client of SII contested Joel Weber’s actions by making a complaint on October 9, 2014. Mainly, the client indicated that Weber misrepresented a guaranteed minimum income benefit ("GMIB"). Supposedly, the client was led to believe that the GMIB income base reflected an amount that could be withdrawn through a lump sum. Therefore, SII Investments agreed to settle the client’s dispute on March 23, 2015 through making a payment of $339,049.69.

Joel Weber Allegedly Misled SII Client

Apparently, a third SII client made a formal complaint about Joel Weber. Mainly, the client indicated that Weber misled him concerning his investment transactions. Specifically, it seems that the client should not have liquidated mutual funds and placed the money into an equity-indexed annuity. Evidently, SII Investments paid the client $54,000 to settle the matter.

Did Weber Sell You Bad Investments?

Have you experienced losses by investing with Joel Weber? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of brokerage firms and individuals like Weber.