{"id":6693,"date":"2018-11-27T14:49:09","date_gmt":"2018-11-27T20:49:09","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6693"},"modified":"2018-11-27T14:49:09","modified_gmt":"2018-11-27T20:49:09","slug":"h-beck-ordered-to-pay-400k-for-unsuitable-variable-annuity-sales-to-customers","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/h-beck-ordered-to-pay-400k-for-unsuitable-variable-annuity-sales-to-customers\/","title":{"rendered":"H. Beck Ordered to Pay $400K for Unsuitable Variable Annuity Sales to Customers"},"content":{"rendered":"<p>\t\t\t\tThe <a href=\"http:\/\/www.finra.org\" target=\"_blank\" rel=\"noopener noreferrer\">Financial Industry Regulatory Authority (FINRA)<\/a> is ordering H. Beck to pay a $400K fine. The self-regulatory authority (SRO) contends that the independent brokerage firm sold <a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/investments\/\" target=\"_blank\" rel=\"noopener noreferrer\">variable annuities (VA) <\/a>to clients even though they were not suitable for some of them.<\/p>\n<p>According to FINRA, of the over 7,000 variable annuity contracts that H. Beck sold, making almost $34.9M in revenue between 1\/2013 and 12\/2014:<\/p>\n<ul>\n<li>2,835 of those were L-share contracts with quite a number of them tied to long-term riders.<\/li>\n<\/ul>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/h-beck-ordered-to-pay-400k-for-unsuitable-variable-annuity-sales-to-customers\/\"  title=\"Continue Reading H. Beck Ordered to Pay $400K for Unsuitable Variable Annuity Sales to Customers\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Industry Regulatory Authority (FINRA) is ordering H. Beck to pay a $400K fine. The self-regulatory authority (SRO) contends that the independent brokerage firm sold variable annuities (VA) to clients even though they were not suitable for some of them. According to FINRA, of the over 7,000 variable annuity contracts that H. Beck sold, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6622,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3739,3777,3884],"tags":[2920],"class_list":["post-6693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finra","category-inadequate-supervision","category-variable-annuities","tag-h-beck"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>H. Beck Ordered to Pay $400K for Unsuitable Variable Annuity Sales to Customers &#8212; Investor Lawyers Blog &#8212; November 27, 2018<\/title>\n<meta name=\"description\" content=\"FINRA is ordering H. Beck to pay a $400K fine. The self-regulatory authority contends that the independent brokerage firm sold variable annuities to clients even though they were not suitable for some of them.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/h-beck-ordered-to-pay-400k-for-unsuitable-variable-annuity-sales-to-customers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"H. Beck Ordered to Pay $400K for Unsuitable Variable Annuity Sales to Customers &#8212; Investor Lawyers Blog &#8212; November 27, 2018\" \/>\n<meta name=\"twitter:description\" content=\"FINRA is ordering H. Beck to pay a $400K fine. The self-regulatory authority contends that the independent brokerage firm sold variable annuities to clients even though they were not suitable for some of them.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/10\/10.18.18.jpeg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"H. Beck Ordered to Pay $400K for Unsuitable Variable Annuity Sales to Customers &#8212; Investor Lawyers Blog &#8212; November 27, 2018","description":"FINRA is ordering H. Beck to pay a $400K fine. 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The self-regulatory authority contends that the independent brokerage firm sold variable annuities to clients even though they were not suitable for some of them.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/10\/10.18.18.jpeg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/h-beck-ordered-to-pay-400k-for-unsuitable-variable-annuity-sales-to-customers\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/h-beck-ordered-to-pay-400k-for-unsuitable-variable-annuity-sales-to-customers\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"H. 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