Category: Uncategorized

ATTORNEY NEWSLETTER Selling Annuities to Seniors The way that financial advisors feel about annuities can be summed up by the adage “annuities aren’t bought, they’re sold.” Annuities are often presented by brokers as being retirement lifesavers, and claim that they are essential to making up the shortfall from savings and […]

ATTORNEY NEWSLETTER Changing Guarantees in Variable Annuities The new Department of Labor rule that requires annuity brokers to act as fiduciaries has sent ripples throughout the industry. Although the rule doesn’t go into full effect until 2018, insurance companies are scrambling to find ways to adapt to (or circumvent) the […]

ATTORNEY NEWSLETTER Whole Life Insurance and Retirement As the Baby Boomer generation starts reaching retirement age, insurance and annuity brokers are gearing up their sales to seniors and the elderly. Ads, mailers, and aggressive sales practices have helped convince a large portion of the senior population that their savings aren’t […]

ATTORNEY NEWSLETTER Investment Fraud and SEC Investigations As financial advisors warn about the “retirement shortfall” that is facing many retirees, seniors are coming under increased pressure to buy financial products, leverage assets like their homes, and find other ways to make their money last. One of the riskiest choices seniors […]

ATTORNEY NEWSLETTER News Rules in Qui Tam Legislation The False Claims Act is a venerable statute of the U.S. Government, dating back to the Civil War. Originally targeted at preventing the rampant fraud plaguing the union army, over the years it has come to be used more broadly, allowing individual […]

ATTORNEY NEWSLETTER Brokers Avoiding Arbitration Awards Our Santa Clara FINRA arbitration attorneys make no secret about being opposed to binding arbitration clauses. Our attorneys, like many in the state of California, believes that requiring consumers to forego their right to a public trial and instead compelling them to air their […]

ATTORNEY NEWSLETTER New Rule on Arbitration Agreements in Nursing Homes Arbitration have long been a thorn in the side of consumers, in California and elsewhere, showing up in our credit card, cell phone, TV and other customer agreements. While the issue is starting to draw some mainstream attention, arbitration clauses […]

ATTORNEY NEWSLETTER Commissions and Kickbacks in the Annuity Market An oft-quoted truism in the financial industry is that some products are “sold, not bought.” This is especially true of annuities, a type of product that often seems to provide more of a benefit to the ¬¬company than to the consumer. […]

ATTORNEY NEWSLETTER What the Wells Fargo Case Means for Whistleblowers The Wells Fargo bank fraud case has been the hot topic for news stations, politicians, and consumer attorneys for the last few weeks. The case saw the largest fine ever levied by the Consumer Financial Protection Board, over 5,000 employees […]

ATTORNEY NEWSLETTER Lowering Expectations for Variable Annuities Our Santa Clara annuity fraud attorneys have long considered annuities to be over-hyped products. Brokers earn large commissions for selling them, and are too often willing to massage or obscure the truth in order to make a sale. Among annuities, the variable and […]