Soreide Law Group, based in Pompano Beach, Florida, has filed a FINRA arbitration on behalf of their client (Claimant) against:
EQUITABLE ADVISORS, LLC. (Respondent)
The Claimant became a client of EQUITABLE ADVISORS, and their registered representative, VICTOR M TORRES in Ft. Lauderdale, Florida. According to the lawsuit, VICTOR M TORRES, specialized in selling variable insurance related securities. Torres sold variable insurance products to the Claimant. The lawsuit alleges that these products were expensive with high commissions.
The lawsuit is claiming a loss allegedly due to the Respondent of $50,000.00, and claims breach of fiduciary duty, negligence, and negligent supervision. VICTOR M TORRES is not named in this lawsuit.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, VICTOR M TORRES (VICTOR M TORRES-HERNANDEZ) has been in the securities industry for 7 years and has been listed with 4 firms. He has 2 disclosures on his FINRA CRD report. One is an “Employment Separation after Allegations,” dated 9/20/2013 where Torres “voluntarily resigned” from Northwestern Mutual Investment Services, LLC of Milwaukee, Wisconsin, following the allegations, “Representative resigned while under internal review for allegedly failing to disclose material underwriting information on his clients’ applications for non-variable insurance.”
The other dispute listed on FINRA’s BrokerCheck is a “Customer Dispute” dated 9/23/2021. The allegations were, “The client alleges the RR (registered representative) sold them an unsuitable variable insurance policy in 2021.” The damage amount requested was, $13,336.00, and the settlement amount was $13,336.00.
VICTOR M TORRES Is currently registered the following firm since 10/23/2018:
EQUITABLE ADVISORS, LLC
ONE FINANCIAL PLAZA
SUITE 1200
FT. LAUDERDALE, FL 33394
To discuss this article or any other related issues, contact the South Florida based, Soreide Law Group, and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA on a contingency fee basis.
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