Great American Advisors, Inc. (CRD #36451, Cincinnati, Ohio) was censured and fined $100,000 by FINRA for failure to have adequate supervisory systems in place for the sale of variable annuities. FINRA's findings stated that because of this, two of Great American Advisors' independent contractor representatives recommended unsuitable variable annuity transactions for Great American Advisors clients. […]

Soreide Law Group is currently investigating claims against Great American Advisors, and its former broker, David Brouwer. Brouwer allegedly had made misrepresentations about equity-linked notes that he recommended to some of his clients in 2007 and 2008. In 2011, the SEC issued an Order Instituting Administrative and Cease-and-Desist Proceedings against Brouwer, which barred Brouwer from […]