ROBERT E JARRAS is currently employed as a Broker and/or Investment Adviser at COMMONWEALTH FINANCIAL NETWORK located at 880 WINTER STREET, SUITE 310, WALTHAM, MA, 02451.
ROBERT E JARRAS has worked at COMMONWEALTH FINANCIAL NETWORK since January 24, 2014
Disclosure History
ROBERT E JARRAS has 2 Disclosure Event(s).
Date: February 27, 2004 Category: Customer Dispute Allegations: CLAIMANTS ALLEGE THAT IN JANUARY 1999 THEIR ADVISOR'S RECOMMENDATION TO LIQUIDATE VARIABLE ANNUITY AND PURCHASE A LIFE INSURANCE POLICY THAT REQUIRED NO ADDITIONAL PREMIUMS CAUSER HER LOSSES OF AT LEAST $60,000.00. CLAIMANTS FURTHER ALLEGE MISREPRESENTATION, FRAUD AND BREACH OF FIDUCIARY DUTY. Damage Amount Requested: $60,000.00 Broker Comment: IN ORDER TO AVOID COSTS WITH ARBITRATION, AEFA AGREED TO PURCHASE FROM ITS AFFILIATE COMPANY IDS LIFE INSURANCE COMPANY, TERM LIFE INSURANCE FOR CUSTOMER WITH A FIXED DEATH BENEFIT OF $190,000. JARRAS DID NOT CONTRIBUTE TO THE SETTLEMENT AMOUNT. CUSTOMERS IN TURN RELEASED AEFA AND JARRAS FROM ALL CLAIMS IN THIS MATTER
Date: May 15, 2003 Category: Customer Dispute Allegations: THE CLIENT ALLGED I STATED WHEN I SOLD THE LIFE INSURANCE POLICY IN 1998 THAT NO ADDITIONAL PREMIUMS WOULD BE NECESSARY TO MAINTAIN THE POLICY. Damage Amount Requested: $5,000.00 Broker Comment: THE EXCHANGE OF THE ANNUITY INTO THE VARIABLE UNIVERSAL LIFE POLICY WAS SUITABLE AT THE TIME OF THE SALE BASED UPON THE CLIENT'S OBJECTIVES AND THE SUITABILITY INFORMATION PROVIDED BY THE CLIENT. THE CLIENT RECEIVED VERBAL AND WRITTEN DISCLOSURE OF THE VUL INVESTMENT ACCOUNTS WERE VARIABLE AND WOULD FLUCTUATE WITH THE MARKET. FURTHER, THE ALLEGATIONS FELL WITH THE CLASS ACTON LAWSUIT AND THE CLIENT RECEIVED COMPENSATION PER THE SETTLEMENT.
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 ROBERT E JARRAS, 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.