Kapsool Seo (CRD#: 6414824, Indianapolis, Indiana) is a securities broker who worked at ProEquities, Inc. from December 22, 2014 to May 26, 2016. Currently, Seo is a Bankers Life Securities Inc. broker in Indianapolis, Indiana. Evidently, the Financial Industry Regulatory Authority (FINRA) BrokerCheck shows that an investor contested Seo’s sales practices. Here is a general idea of what the customer alleges regarding Seo:
Evidently, a ProEquities and Bankers Life customer brought Arbitration #49D02-1708-PL-031273 in a Marion County, Indiana Superior Court on August 22, 2017. Notably, the plaintiff (the customer’s estate) claimed that ProEquities or Seo exploited the customer. Apparently, the customer and Seo met on August 12, 2015 to discuss annuities. Afterwards, the customer bought a Bankers Life and Company immediate fixed annuity. Supposedly, Seo acted deceptively with the customer, using high pressure sales tactics to get the customer to purchase an unsuitable or unreasonable immediate fixed annuity. All thing considered, on May 7, 2018, Bankers Life or ProEquities paid the customer $53,000.00 to settle the matter.
Unfortunately, some insurance agents and financial advisors exploit elderly investors by selling them misrepresented or unsuitable annuities. Seniors hold a large portion of the overall wealth in the United States. Because of this, there is greater risk of brokers financially exploiting elderly investors to generate commissions or other compensation. Moreover, some annuities purchases, possibly including the one Seo sold, are problematic because investors cannot revoke them. Notably, securities regulators including FINRA commonly take disciplinary action against brokers over their unsuitable or negligent annuity transactions. Also, investors frequently take legal action against brokers to recover losses from unsuitable investments.
Have you experienced losses by investing with ProEquities and Bankers Life Securities Inc. broker Kapsool Seo? If so, contact Soreide Law Group at (888) 760-6552, where you can speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.
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