The Financial Industry Regulatory Authority (“FINRA”) BrokerCheck report for securities broker Maryanne Virginia Bessler (CRD#: 2192223, Lynbrook, New York) contains investor disputes and a regulatory action. It seems that this securities broker, who works for LPL Financial as financial advisor and securities broker (October 2011 to present), is involved in investor disputes about suitability. The regulatory sanction against Bessler concerns an allegedly unauthorized annuity transaction. Here’s more.
Evidently, the widow of an LPL Financial client brought a dispute on their behalf regarding alternative investments and annuities. Supposedly, in this May 2020 FINRA Arbitration Claim, the client alleged that Maryanne Bessler recommended unsuitable alternative investments and annuities. Supposedly, those securities were not a match for the client’s investment profile. Also, LPL Financial faced accusations of failing to supervise the securities broker. Purportedly, Bessler’s unsuitable recommendations resulted in damages. Evidently, to resolve this matter, LPL Financial opted to make a $115,000 payment to the client. This matter settled in April 2021.
Evidently, Maryanne Bessler agreed to pay a $16,400 fine to resolve State of New York Insurance Department’s allegations that she violated New York insurance law by soliciting, negotiating, or selling annuities. Allegedly, Allianz issued the insurance policies to NY clients. It appears that Bessler faced allegations of writing contracts on behalf of an unregistered company in NY.
In addition, a client of Investors Capital Corporation brought a dispute about Maryanne Bessler. Specifically, the client contended that Bessler sold them an unsuitable corporate bond which caused them losses. However, Investors Capital Corporation denied this dispute.
Did Maryanne Bessler cause you to incur losses or damages? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has helped recover compensation for investors across the United States who sustained damages because of their financial advisors or securities brokers. Note that Bessler (also called Maryann Bessler) denies all allegations of her sales practice violations.
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