Ivan Wenzel Involved In Allstate Investor Dispute

Allstate Securities Broker Ivan Wenzel Involved In Investor Dispute About Annuity

The Financial Industry Regulatory Authority (FINRA) contains new information about securities broker Rodolf Ivan Wenzel (“Ivan Wenzel”) (CRD#: 1532033, Redlands, California). Evidently, Wenzel worked for firms Allstate Financial Services (1999 to 2018) and Voya Financial Advisors (2019 to 2020). Specifically, two Allstate investors filed disputes allegin Save g sales practice violations. Not only that, but Allstate discharged Wenzel’s employment amid allegations of misconduct.

Allstate Financial Services Client Alleges Damages In Connection With Ivan Wenzel’s Annuity Sale

Notably, a client of Allstate Financial Services disputed Ivan Wenzel’s sales practices. The client contends that Wenzel did not properly explain the variable annuity. In addition, the client claims that Wenzel caused there to be an ineligible annuitant on the variable annuity. Because of this, the client asked for compensation. Allstate Financial Services, without any admission of liability, opted to settle the matter by making a $25,864.56 payment to the client.

Allstate Financial Services Discharges Wenzel

Evidently, Ivan Wenzel worked in Allstate's Redlands, California offices from September 1999 to May 2018. It seems that the firm "discharged" him as a securities broker. Notably, the firm alleges that Wenzel terminated him "after allegations of rebating on a non-registered life insurance policy."

Ivan Wenzel’s Client Of Allstate Financial Services Alleges Misrepresentation

Also, BrokerCheck shows that a second client of Allstate Financial Services alleges misrepresentation. It appears that the client brought a dispute about Ivan Wenzel’s variable annuity representations. Allegedly, Wenzel misrepresented surrender charges on the variable annuity. Basically, surrender charges are penalties that the issuer of an annuity assesses for prematurely surrendering the annuity. However, Allstate Financial Services denied this client’s dispute.

Losses By Investing Through Wenzel?

Have you experienced investment losses or damages because of Ivan Wenzel? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered compensation for many US clients who have experienced losses from their securities brokers and financial advisors. Securities broker Wenzel denies allegations of sales practice violations.