ERVIN PAUL DUMOND is currently employed as a Broker and/or Investment Adviser at BANKERS LIFE SECURITIES, INC. located at 360 US Route 1,Suite 202, SUITE 202, Scarborough, ME, 04074.
ERVIN PAUL DUMOND has worked at BANKERS LIFE SECURITIES, INC. since May 26, 2016
Disclosure History
ERVIN PAUL DUMOND has 2 Disclosure Event(s).
Date: November 30, 2011 Category: Customer Dispute Allegations: ON 4/22/2011, CUSTOMER EXECUTED PPWK TO PURCHASE A PACIFIC LIFE VA. CUSTOMER ALLEGES THAT RR FAILED TO EXPLAIN HER OPTIONS OR PROVIDE HER WITH RELEVANT FACTS RELATED TO THE CONTRACT. CUSTOMER ALLEGES THAT, RR WAS MORE INTERESTED IN PURCHASING HER DECEASED HUSBAND'S GUN THAN EXPLAINING THE CONTRACT TO HER. CUSTOMER STATES THAT SHE CONTACTED THE PACIFIC LIFE TOLL FREE NUMBER AND LEARNED THAT THE CONTRACT SHE PURCHASED IS SIMPLY RETURNING HER OWN MONEY AT THE RATE OF 7% PER YEAR AND THE PAYMENTS WILL STOP AT THE END OF 14 YEARS WHICH IS NOT HOW SHE UNDERSTOOD THE CONTRACT. IN REVIEW OF THE FIRM'S FILE FOR THIS CUSTOMER, WE FIND THAT SHE SIGNED THE VARIABLE ANNUITY INVESTOR ACKNOWLEDGMENT FORM, INDICATING SHE UNDERSTOOD THE FEATURES AND BENEFITS OF THIS POLICY. Broker Comment: IN REVIEW OF THE CUSTOMER'S FILE, WE FIND THAT SHE SIGNED THE FIRM'S VARIABLE ANNUITY INVESTOR ACKNOWLEDGMENT FORM INDICATING SHE UNDERSTOOD THE BENEFITS AND FEATURES OF THE ANNUITY, AND THAT SHE BELIEVED THIS WAS A SUITABLE INVESTMENT FOR HER FINANCIAL NEEDS. AS SUCH, THE ALLEGATIONS WERE DENIED.
Date: September 26, 2008 Category: Customer Dispute Allegations: REGARDING THE 1993 PURCHASE OF A VARIABLE APPRECIABLE LIFE INSURANCE POLICY, THE CLIENT ALLEGED MISREPRESENTATION CONCERNING THE PURCHASE OF A LIFE INSURANCE POLICY AS A RETIREMENT OR PENSION PLAN. Broker Comment: THIS CONCERNS A POLICY INCLUDED IN THE CLASS OF POLICIES THAT WAS THE SUBJECT OF A NATIONWIDE CLASS ACTION SETTLEMENT IN WHICH PRUDENTIAL, ITS INSURANCE AFFILIATES AND PERSONNEL WERE RELEASED CONCERNING LIFE INSURANCE SALES PRACTICES. THE CLASS ACTION SETTLEMENT REMEDIATION PROCESSES FOR ADDRESSING CLAIMS FOR POLICIES INCLUDED IN THE CLASS HAVE CONCLUDED. BECAUSE THE COMPANY AND THE REPRESENTATIVE(S) WERE RELEASED FROM ANY FURTHER LIABILITY OR OBLIGATION WITH RESPECT TO CLAIMS LIKE THOSE MADE BY THE POLICYHOLDER, THE COMPANY IS NOT REVIEWING THIS INQUIRY AND IS MAKING NO FINDING OR FURTHER FILING REGARDING THIS INQUIRY.
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