FRANK ALOYIUS DONNELLY is currently employed as a Broker and/or Investment Adviser at AXA ADVISORS, LLC located at 210 LAKE DRIVE EAST, SUITE 310, CHERRY HILL, NJ, 08002.
FRANK ALOYIUS DONNELLY has worked at AXA ADVISORS, LLC since October 20, 1980
Disclosure History
FRANK ALOYIUS DONNELLY has 1 Disclosure Event(s).
Date: August 22, 2007 Category: Customer Dispute Allegations: CLIENT ALLEGES HE ROLLED AN EXISTING TRADITIONAL LIFE INSURANCE POLICY INTO A 1992 VARIABLE LIFE INSURANCE POLICY BASED ON THE AGENT'S REPRESENTATION THAT THE POLICY WOULD BE PAID UP WHEN THE CLIENT REACHED 65 AND HE WOULD NO LONGER HAVE TO PAY THE PREMIUMS. CLIENT FURTHER ALLEGES THAT HE WAS INFORMED HE COULD WITHDRAW CASH FROM THIS POLICY TO SUPPLEMENT HIS RETIREMENT INCOME. CLIENT ALLEGES HE HAS NOW LEARNED THAT THE POLICY REMAINS IN FORCE UNTIL HE REACHES 95 AND HE WOULD HAVE TO MAINTAIN THE $800 QUARTERLY PREMIUM. CLIENT IS REQUESTING THE FIRM TO INVESTIGATE THIS MATTER. DAMAGES ARE UNSPECIFIED. Broker Comment: THE FIRM FOUND NO BASIS TO THE CUSTOMER COMPLAINT
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