JOHN MICHAEL KUCHMAK

JOHN MICHAEL KUCHMAK is currently employed as a Broker and/or Investment Adviser at AXA ADVISORS, LLC located at 1000 WOODBURY ROAD, SUITE 300, WOODBURY, NY, 11797.

JOHN MICHAEL KUCHMAK has worked at AXA ADVISORS, LLC since October 20, 1980

Disclosure History

JOHN MICHAEL KUCHMAK has 1 Disclosure Event(s).

Date: July 28, 2010
Category: Customer Dispute
Allegations: CLIENT ALLEGES HE WAS MISINFORMED REGARDING THE SALE OF A VARIABLE LIFE INSURANCE POLICY. CLIENT ALLEGES THE AGENT DID NOT MAKE HIM AWARE OF THE HIGH SURRENDER CHARGE AND IT WAS NOT EXPLAINED TO HIM THAT HE WOULD LOSE A PARTIAL AMOUNT OF HIS PURCHASE PAYMENT. CLIENT IS REQUESTING THE FIRM TO CANCEL HIS POLICY AND REFUND HIM $9,856.00.
Damage Amount Requested: $9,856.00
Settlement Amount: $5,502.00
Broker Comment: THE FIRM FOUND NO BASIS TO THE CUSTOMER'S COMPLAINT. BASED ON THE APPEAL AXA EQUITABLE HAS AGREED TO REFUND THE SURRENDER CHARGE DEDUCTED FROM THE ACCOUNT VALUE WHEN THE POLICY WAS SURRENDERED-$5502.00. RR KUCHMAK'S ERRORS & OMMISSIONS CARRIER DID NOT CONTRIBUTE TO THE SETTLEMENT.

More Information

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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.

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