RICHARD JAMES WRIGHT is currently employed as a Broker and/or Investment Adviser at AMERICAN PORTFOLIOS FINANCIAL SERVICES, INC. located at 124 MAIN STREET, GENESEO, NY, 14454.
RICHARD JAMES WRIGHT has worked at AMERICAN PORTFOLIOS FINANCIAL SERVICES, INC. since January 03, 2003
Disclosure History
RICHARD JAMES WRIGHT has 1 Disclosure Event(s).
Date: May 04, 2006 Category: Customer Dispute Allegations: REGARDING THE 1986 PURCHASE OF A VARIABLE APPRECIABLE LIFE INSURANCE POLICY, THE CLIENT ALLEGED MISREPRESENTATION CONCERNING THE ABBREVIATED PAYMENT PLAN. ALSO CLIENT ALLEGES THAT THEY WERE TOLD THE ORIGINAL POLICY WAS FOR $100,000.00 AND THE POLICY WAS ACTUALLY FOR $98,000.00. THIS MATTER IS BEING REPORTED BECAUSE THE COMPLAINANT HAS ALLEGED NO DOLLAR AMOUNT AND THE FIRM HAS NOT MADE A GOOD FAITH DETERMINATION THAT THE DAMAGES FROM THE ALLEGED CONDUCT WOULD BE LESS THAN $5,000. 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 PROCESS 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 POLICY HOLDER,THE COMPANY IS NOT REVIEWING THIS INQUIRY AND IS MAKING NO FINDING OR FURTHER FILING REGARDING THIS INQUIRY.
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