MICHAEL JAMES MONAGHAN is currently employed as a Broker and/or Investment Adviser at ROYAL ALLIANCE ASSOCIATES, INC. located at 6546 N UNION ROAD, CLAYTON, OH, 45315.
MICHAEL JAMES MONAGHAN has worked at ROYAL ALLIANCE ASSOCIATES, INC. since January 09, 2017
Disclosure History
MICHAEL JAMES MONAGHAN has 2 Disclosure Event(s).
Date: May 15, 2002 Category: Customer Dispute Allegations: CLIENT WISHES TO CANCEL POLICY AND HAS REQUESTED A REFUND OF PREMIUMS PAID. CLIENT ALLEDGES THAT THEY INFORMED MR. MONAGHAN THEY WANTED A PAID-UP POLICY AND DID NOT WANT TO PAY ANY ADDITIONAL FUNDS TO KEEP THE POLICY ACTIVE. CLIENT JUST BECAME AWARE THAT MORE PREMIUMS MAY BE REQUIRED TO KEEP THE POLICY IN FORCE, AND TO MAINTAIN A GUARANTEED DEATH BENEFIT. Damage Amount Requested: $17,523.00 Broker Comment: OHIO NATIONAL LIFE RESPONDED TO THE CUSTOMER COMPLAINT. STEVEN TRUMBO ASSISTANT COUNSEL RESPONDED; TO O.N. CONSERNING THE COMPLAINT. WE ARE TRYING TO NEGOTIATE THE POSSIBLITY OF A 50,000 PAYED UP POLICY.
Date: July 30, 1997 Category: Employment Separation After Allegations Firm Name: O.N. EQUITY SALES COMPANY Termination Type: Permitted to Resign Allegations: SHARED RENEWAL OVERRIDES AND EXPENSE ALLOWANCES ATTRIBUTABLE TO REGISTERED PRODUCTS WITH ANON-REGISTERED LIFE INSURANCE AGENT Broker Comment: AN INTERNAL FINE OF $2500.00 PLUS RECISSION OFALLEGED SHARE RENEWAL OVERRIDES AND EXPENSE ALLOWANCE IN THEAMOUT OF $4883.07. TERMINATED AS A REGISTERED REPRESENTATIVE OF THE O.N. EQUITY SALES COMPANY... SEE ATTACHED ADDENDUM (ALREADY ON FILE.)MY ACCOUNTANT WAS RESPONSIBLE FOR SPLITTING OUT OVERRIDE COMISSIONS ON VARIABLE PRODUCTS REGARDING RENEWALS & EXPENSE ALLOWANCES-DID NOT RECOGNIZE DIFFERENCE BETWEEN VARIABLE & TRADITIONAL LIFE INSURANCE. THIS WAS COMPLETELY A MISTAKE WHICH APPEARED ON THE AGENCY COMP STATEMENTS WHICH SHOULD NOT HAVE BEEN THERE. THEY SHOULD HAVE APPEARED ON MY PERSONAL STATEMENT ONLY.
More Information
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
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.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for MICHAEL JAMES MONAGHAN, click here.
The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.
×
Outdated Information
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
×
BrokerSearch Removal
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.