ANTHONY HUSTON BARRON is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 501 WEST BROADWAY, STE 800, SAN DIEGO, CA, 92101.
ANTHONY HUSTON BARRON has worked at LPL FINANCIAL LLC since August 30, 2002
ANTHONY HUSTON BARRON has 2 Disclosure Event(s).
Date: February 27, 2015 Category: Customer Dispute Allegations: CLIENT ALLEGES MISREPRESENTATION IN CONNECTION WITH THE SALE OF A SURVIVORSHIP VARIABLE LIFE INSURANCE POLICY. DAMAGES NOT SPECIFIED. Broker Comment: THE FIRM FOUND NO BASIS TO THE CUSTOMER COMPLAINT.
Date: February 19, 1997 Category: Customer Dispute Allegations: ALLEGATIONS INCLUDED RECOMMENDING AN ANNUITY/LIFE INSURANCE PROGRAM WHICH COST $820,284.26. IN RETURN, PLAINTIFFS PURCHASED TWO LIFE ANNUITIES PAYING [THIRD PARTY], AGE 83, $72,502.24 ANNUALLY UNTIL HER DEATH, AND TWO LIFE INSURANCE POLICIES PAYING HER BENEFICIARIES $561,925.00 UPON HER DEATH. PLAINTIFFS ALLEGED THEY DID NOT UNDERSTAND THE LIFE ANNUITIES WOULD TERMINATE UPON HER DEATH, AND IF THEY HAD,WOULD NOT HAVE TERMINATED EXISTING MUTUAL FUND INVESTMENTS,RESULTING IN PENALTIES. Settlement Amount: $438,716.46 Broker Comment: THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES PAID THE [CUSTOMERS] THE SUM OF $5,000.00 AND GUARANTEED MONTHLY PAYMENTS OF THE ANNUITIES, PURCHASED IN OCT 1995 AND MARCH 1996, THROUGH THE END OF NOVEMBER 1999. AETNAAND SECURITY CONNECTICUT RETURNED THE SUMS OF $109,000 AND$202,000.29 TO THE [CUSTOMERS]. I PAID THE [CUSTOMERS] THE SUM OF$70,000 PLUS THE ADDED SUM OF $36,000 REPRESENTING MYCONTRIBUTION FOR THE SECURITY CONNECTICUT POLICY AND PAID AETNA THE SUM OF $16,716.17. NO ADMISSIONS OF LIABILITY WAS MADE BY ANY PARTY. [THIRD PARTY] CONTENDED SHE DID NOT UNDERSTAND THE ANNUITIES TERMINATED UPON HER DEATH, ALTHOUGH THIS HAD BEEN EXPLAINED TO HER BY ME AND ON HER APPLICATIONS. BOTH ANNUITIES ALSO STATED THEY TERMINATED UPON DEATH. THE [CUSTOMERS] FIRST COMPLAINED AFTER THE PERIOD FOR CANCELLATION EXPIRED. THE MATTER WAS SETTLED EARLY IN LITIGATION BY THE RETURN OF THE PREMIUMS FOR THE LIFE INSURANCE POLICIES, A GUARANTEE OF THE ANNUITIES FOR A PERIOD OF TWO YEARS FROM THE DATE OF TENTATIVE SETTLEMENT, AND A SUM FOR THE [CUSTOMERS] ATTORNEYS FEES.
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