RAYMOND NOEL GARNER is currently employed as a Broker and/or Investment Adviser at FORESTERS EQUITY SERVICES, INC. located at 3500 SE 30TH TERRACE, OCALA, FL, 34471.
RAYMOND NOEL GARNER has worked at FORESTERS EQUITY SERVICES, INC. since November 08, 2010
Disclosure History
RAYMOND NOEL GARNER has 1 Disclosure Event(s).
Date: September 11, 2007 Category: Customer Dispute Allegations: CUSTOMER PURCHASED AN EQUITY INDEX ANNUITY IN THE AMOUNT OF $275,000.00 FROM THE REPRESENTATIVE IN MARCH, 2003. CUSTOMER BECAME DISSATISFIED WITH INVESTMENT PERFORMANCE AND CONTACTED THE REPRESENTATIVE AT HIS NEW FIRM. THE CUSTOMER ASSERTS THAT THE REPRESENTATIVE ASSURED HIM OF THE APPROPRIATENESS OF THE INVESTMENT. CUSTOMER SURRENDERED CONTRACT IN AUGUST, 2007 AND WAS ASSESSED SURRENDER CHARGES AND INTEREST ADJUSTMENTS TOTALLING APPROXIMATELY $70,000. CUSTOMER STATES HE WOULD NOT HAVE PURCHASED THE ANNUITY IF HE HAD BEEN INFORMED THAT A 20% SURRENDER CHARGE APPLIED TO THE PRODUCT. CUSTOMER ALLEGES SURRENDER CHARGE WAS NOT DISCLOSED AT THE TIME OF THE PURCHASE AND REQUESTS REIMBURSEMENT OF SURRENDER CHARGES AND INTEREST ADJUSTMENT. Damage Amount Requested: $70,000.00 Broker Comment: THE FIRM'S INSURANCE AGENCY AFFILIATE HAS NO SELLING AGREEMENT IN PLACE WITH THE RELEVANT INSURANCE CARRIER. NEITHER EQUITY INDEX ANNUITIES IN GENERAL, NOR THIS PRODUCT, HAVE NEVER BEEN APPROVED FOR SALE BY THE FIRM. COMMISSIONS DID NOT FLOW THROUGH THE FIRM, THE FIRM HAD NO KNOWLEDGE OF THE TRANSACTION AND HAS DETERMINED THE REPRESENTATIVE WAS SELLING AWAY.
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