John Whalen (Equitable Advisors) Facing Investor Complaint About Misrepresentation

Investors possibly experienced sales practice violations by securities broker John Howley Whalen [CRD: 1900188, Honolulu, Hawaii], according to public information on FINRA BrokerCheck. Evidently, Whalen has been registered with Commonwealth Financial Network in Honolulu, Hawaii, since May 29, 2015, and concurrently as an investment adviser representative with the same firm since June 2, 2015. Previously, he was registered with VSR Advisory Services in Honolulu, Hawaii, from November 24, 2010, to May 29, 2015, and briefly with Commonwealth Financial Network in San Diego, California, on May 29, 2015. Continue reading for details about the disclosures involving Whalen.

Equitable Advisors Investor Accused Whalen Of Misrepresentation

Notably, on September 4, 2024, an Equitable Advisors LLC client filed a complaint about John Whalen. Primarily, the client alleged that Whalen made misrepresentations of material fact concerning two variable annuities. The client further alleged that Whalen failed to disclose the policy terms and did not adequately explain the Guaranteed Minimum Income Benefit (GMIB) feature. Because of this, the investor allegedly incurred damages connected to variable annuities. Consequently, the client requested compensation from Equitable Advisors or Whalen. The firm later denied the complaint, stating it found no basis for the client’s allegations.

John Whalen Disclosed Unsuitable Recommendations Allegations By VSR Financial Services Client

Notably, a client of VSR Financial Services Inc. disputed John Whalen’s sales practices by filing FINRA Arbitration No. 21-00688. Allegedly, Whalen made unsuitable recommendations involving multiple alternative investments. It appears that Whalen caused the client to sustain damages linked to variable annuities, corporate bonds, and real estate securities. Therefore, VSR Financial Services opted to settle the matter on June 30, 2022, by compensating the client in the amount of $55,000.

AXA Advisors Investor Accused Whalen Of Unsuitable Recommendations

Also, on March 25, 2009, an AXA Advisors client filed a complaint about John Whalen. Mainly, the client alleged that Whalen made unsuitable recommendations regarding the sale of two life insurance products given the clients’ ages. The client further alleged that Whalen failed to provide prospectus booklets for the variable insurance policies. For this reason, the client allegedly sustained damages. As a result, the client requested compensation from AXA Advisors or Whalen. The firm denied the complaint on April 16, 2009, stating it found no basis for the clients’ allegations.

Were You Impacted By Financial Advisor / Securities Broker John Whalen?

Did you suffer any investment-related losses because of John Whalen? You should contact Soreide Law Group at (888) 760-6552 or online and consult with a securities lawyer about a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the country. Also, the firm works on a contingency fee arrangement and advances all costs. Whalen and brokerage firms Whalen worked for deny accusations of sales practice violations.