ARNOLD FRANK is currently employed as a Broker and/or Investment Adviser at AXA ADVISORS, LLC located at 27 HOOKS LANE, PIKESVILLE, MD, 21208.
ARNOLD FRANK has worked at AXA ADVISORS, LLC since December 16, 1985
Disclosure History
ARNOLD FRANK has 10 Disclosure Event(s).
Date: October 14, 2015 Category: Customer Dispute Allegations: Client alleges misrepresentation in the purchase of a variable life insurance policy purchased in 1993. Settlement Amount: $110,000.00 Broker Comment: The Firm found no basis to the customer complaint. Based on appeal received on July 13, 2017, without admitting liability, the matter was settled.
Date: May 23, 2015 Category: Customer Dispute Allegations: CLIENT ALLEGES MISREPRESENTATION IN THE PURCHASE OF HER VARIABLE LIFE INSURANCE PRODUCT IN 2001. Broker Comment: THE FIRM FOUND NO BASIS TO THE CUSTOMER COMPLAINT.
Date: June 09, 2012 Category: Customer Dispute Allegations: CLIENT ALLEGES HE PURCHASED TWO VARIABLE LIFE INSURANCE POLICIES AND THE AGENT DID NOT ADVISE HIM THAT THE POLICY COULD HAVE CASH WITHDRAWN TO OFFSET THE FINANCIAL BURDEN HE AND HIS FAMILY ENCOUNTERED DURING THIS PERIOD. CLIENT IS REQUESTING A REFUND OF ALL MONIES PLACED IN THE POLICY FROM SEPTEMBER 2006 UNTIL PRESENT. DAMAGES UNSPECIFIED. Broker Comment: THE FIRM FOUND NO BASIS TO THE CUSTOMER COMPLAINT.
Date: June 18, 2009 Category: Customer Dispute Allegations: ATTORNEY ALLEGES HIS CLIENT PURCHASED A VARIABLE LIFE INSURANCE POLICY BASED ON THE AGENT'S REPRESENTATION THAT UPON PAYMENT OF THE FIRST SEVERAL YEARS PREMIUMS, NO FURTHER PREMIUM PAYMENTS WOULD BE REQUIRED. ATTORNEY FURTHER ALLEGES THAT WHEN THE CLIENT RECEIVED NOTICES OF PREMIUM PAYMENTS DUE, HER AGENT INFORMED HER THAT IT WOULD NOT BE NECESSARY FOR HER TO PAY THE PREMIUMS BECAUSE THE POLICY WAS PAYING THESE COSTS. CLIENT HAS RECENTLY BEEN INFORMED THAT HER POLICY HAS LAPSED AND SHE IS REQUESTING THE FIRM TO INVESTIGATE THIS MATTER. DAMAGES UNSPECIFIED. Broker Comment: THE FIRM FOUND NO BASIS TO THE CUSTOMER'S COMPLAINT.
Date: January 28, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES THE AGENT MADE MISREPRESENTATIONS REGARDING THE AMOUNT OF PREMIUMS NEEDED TO MAINTAIN A 1996 ISSUE VARIABLE LIFE INSURANCE POLICY.CLIENT REQUESTED A REFUND OF $20,000. Damage Amount Requested: $20,000.00 Settlement Amount: $21,146.66 Broker Comment: EQUITABLE AGREED TO CANCEL THE POLICY AND REFUND PREMIUMS PAID LESS THE NET CASH SURRENDER VALUE THAT WAS DISBURSED IN DECEMBER 2001, FOR A NET REFUND OF $21,146.66.
Date: January 24, 2002 Category: Regulatory
Date: May 22, 2001 Category: Customer Dispute Allegations: CLIENT ALLEGES HE WAS MISLED REGARDING PREMIUM PAYMENTS DURING THE SALE OF A 1997 ISSUE VARIABLE LIFE INSURANCE POLICY. DAMAGES ARE UNSPECIFIED. Settlement Amount: $9,400.00 Broker Comment: EQUITABLE AGREED TO CANCEL THE CURRENT POLICY AND RESTORE THE VALUE TO THE ORIGINAL POLICY. THIS RESULTED IN A LOSS OF $9,400.00.
Date: June 09, 2000 Category: Regulatory Initiated By: MARYLAND INSURANCE ADMINISTRATION Allegations: VIOLATION OF SECTION 10-126(A)(1) OF THE MARYLAND INSURANCE ARTICLE AND COMAR 31.09.05.05 IN THAT I FAILED TO PROPERLY COMPLETE THE APPLICATION AND DID NOT COMPLETE THE NOTICE REGARDING REPLACEMENT. Resolution: Consent SanctionDetails: Sanctions: Monetary/Fine SanctionDetails: Amount: $500.00 Sanction Details: I AGREED TO PAY A FINE OF $500.00. Broker Comment: RATHER THAN DELAY THIS MATTER FURTHER AND INCUR THE EXPENSE OF A HEARING I ENTERED INTO A CONSENT ORDER IN WHICH I AGREED TO PAY A $500.00.
Date: May 26, 2000 Category: Customer Dispute Allegations: PLAINTIFF ALLEGES BREACH OF CONTRACT, FRAUD, NEGLIGENT MISREPRESENTATION AND UNJUST ENRICHMENT RELATING TO THE SOLICITATION AND SALE OF A VARIABLE LIFE INSURANCE POLICY IN 1994. Damage Amount Requested: $100,000.00 Settlement Amount: $24,037.00 Broker Comment: THE SETTLEMENT WAS A COMPROMISE OF DISPUTED CLAIMS AND SHOULD NOT BE CONSIDERED AN ADMISSION OF LIABILITY BY ANY DEFENDANT.
Date: February 22, 2000 Category: Customer Dispute Allegations: CLIENT ALLEGES MISREPRESENTATION DURING THE SALE OF A 1997 ISSUE VARIABLE LIFE INSURANCE POLICY. CLIENT FURTHER ALLEGES HE WAS NOT INFORMED OF SURRENDER CHARGES. CLIENT REQUESTED A WAIVE OF SURRENDER CHARGES, BUT DID NOT SPECIFY ANY AMOUNT OF DAMAGES. Settlement Amount: $10,171.20 Broker Comment: EQUITABLE AGREED TO CANCEL THE POLICY AND REFUND PREMIUMS PAID. THIS RESULTED IN A LOSS OF $10,171.20.
More Information
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