John Abrams Involved In Equitable Advisors Clients’ Disputes

Investors might have sustained losses due to John Lawrence Abrams (also known as Jack Abrams) [CRD: 2795856, Boca Raton, Florida], according to disclosures on the Financial Industry Regulatory Authority (FINRA) BrokerCheck. Notably, Abrams was previously registered as a financial advisor and securities broker, with employment at Equitable Advisors LLC in Boca Raton, FL from November 1, 2021, to September 8, 2023, and SagePoint Financial Inc. in Pinecrest, FL from November 1, 2016, to July 26, 2021. For more on Abrams's disclosures, read below.

Equitable Advisors LLC Client Alleged Misrepresentation By Abrams

Notably, on June 26, 2023, a client of Equitable Advisors LLC filed a written complaint concerning John Abrams. The client contended that Abrams misrepresented an investment. Specifically, the client alleged Abrams provided inaccurate information regarding variable annuities. However, Equitable Advisors LLC reviewed the complaint and concluded on August 4, 2023, that there was no basis for it. Consequently, the firm took no further action, and the complaint was marked as denied.

Allegations Of Failure To Disclose Surrender Charges By John Abrams

Also, a different complaint was filed about Abrams while at Equitable Advisors LLC. Evidently, on June 23, 2023, a client alleged that Abrams did not inform them about surrender charges, adversely impacting their new investment in variable annuities. The client reported damages amounting to $18,395.49. Therefore, Equitable Advisors LLC settled this complaint on October 10, 2023. The firm agreed to cancel the new contract and refund the incurred surrender charges. Abrams contributed $18,395.49 to the settlement.

MetLife Securities Client Alleged Improper Sales Practices And Unsuitable Investment Recommendations

Also, Abrams faced allegations from a MetLife client, according to FINRA Arbitration No. 13-02290, filed on August 21, 2013. The client accused Abrams of making unsuitable investment recommendations concerning advisory accounts established around October 2009. The complaint involved mutual funds and exchange-traded notes, with the client alleging damages of $100,000. Ultimately, it was settled on November 18, 2014, for $42,500.

Investor Accused John Abrams Of Unsuitable Advice

Particularly, a complaint was filed about John Abrams while employed at MetLife Securities. Specifically, on February 16, 2010, a client alleged that Abrams's recommendation for ETFs within his managed account did not align with his investment profile. Consequently, the client claimed damages of $89,997. Subsequently, MetLife Securities settled this matter by paying the client $89,997 in damages on March 17, 2010. Abrams maintained that he did nothing wrong, and the case was settled without any admission of wrongdoing.

Abrams Disclosed Misrepresentation Allegations By Equitable Advisors LLC Client

Evidently, a client of Equitable Advisors LLC contested John Abrams’s sales practices, according to a complaint dated June 26, 2023. Allegedly, Abrams misrepresented a variable annuity. However, the complaint was subsequently denied by Equitable Advisors LLC on August 4, 2023.

Did You Sustain Losses Because Of Securities Broker John Abrams?

Did you experience damages because of securities broker / financial advisor John Abrams? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Abrams and the brokerage firms he worked for deny accusations of sales practice violations.