The securities attorneys and investment attorneys at Weltz Law represent customers in their disputes with brokerage firms, such as AXA Advisors, LLC (AXA Advisors). Many investors do not realize when their financial advisor engages in securities or investment broker misconduct, but there are steps that can be taken to recover losses. Our securities attorneys and investment attorneys can analyze your accounts and investments in order to determine if there was any wrongdoing in the handling of your accounts, which resulted in stock market losses. There are many different types of securities related misconduct including breach of fiduciary duty, failure to supervise, misrepresentation, and churning. Our analysis can reveal whether an investor has been a victim of misconduct including unsuitable investments, unauthorized trading, excessive trading, financial elder abuse or fraud.
AXA Advisors is affiliated with, under common control, or otherwise performs business under the company names AXA Financial, Inc., AXA Equitable Life Insurance, AXA Network, MONY, EQ Financial Consultants, Inc., Equico Securities, Inc., Paramount Planning Group, AXA Distributors, LLC, and AXA Partners.
AXA S.A. is a French global investment, retirement, and insurance company. AXA is a conglomerate of independently run organizations that operate under the regulations of their host countries. AXA encompasses five main operating business segments Life & Savings, Property & Casualty, International Insurance, Asset Management, and Other Financial Services.
AXA Advisors – By the Numbers
- CRD# 6627
- SEC# 8-17883
- 25 Regulatory Events
- 11 Customer Complaints
- Representatives: 5,000+
AXA Advisors – In the News
Department of Enforcement Financial Industry Regulatory Authority RE: AXA Advisors, LLC Case # 2015047560501: AXA Advisors agreed to pay a $600,000 fine and repay $172,000 to 401(k) retirement plan participants for marketing some junk bond funds as investment-grade. AXA Advisors LLC reportedly misrepresented the credit quality of certain funds offered within group annuity contracts for the corporate retirement plans, for five years ending in November 2015. Further, it was alleged that the mischaracterization of junk bond funds occurred in thousands of enrollment forms, investment option attachments and other documents created by the broker-dealer’s life insurance company affiliate. Approximately 800 retirement plans and 6,200 plan participants were affected, according to FINRA. AXA reportedly violated three rules regarding supervisory procedures, advertising and negligent misrepresentation.
FINRA v. AXA Advisors, LLC (Sept. 5, 2007): The Financial Industry Regulatory Authority (FINRA) fined AXA Advisors, LLC, $1.2 million concerning allegations that the firm failed to adequately supervise its fee-based brokerage business and distributed misleading sales information for its fee-based brokerage account program, CapAdvantage. FINRA also ordered AXA Advisors to return $1.4 million in fees to approximately 1,800 customers who were allegedly placed improperly in fee-based brokerage accounts. The firm also voluntarily refunded customers an additional $1.2 million.
In the Matter of AXA Advisors, LLC, Respondent (AWC 2009020149901, March 13, 2012): FINRA alleged that AXA Advisors failed to properly supervise a representative FINRA alleged that AXA was aware that the representative was experiencing financial difficulties and ignored other red flags that indicated that the representative ran a Ponzi scheme.
In the Matter of AXA Advisors, LLC, Respondent (AWC 200917466202, March 30, 2012): FINRA fined AXA Advisors $50,000 for allegations concerning its failure to supervise a broker who misappropriated $122,000 from the money market account of a customer. According to FINRA, redemption requests were made without the customer’s authorization or knowledge and were all processed and reviewed for suitability through AXA’s electronic suitability review system.
Retain an Experienced Securities Lawyer and Investment Lawyer
If you sustained losses because of Accelerated Capital and by your broker, it is crucial to engage an experienced securities attorneys and investment attorneys to represent you in your pursuit of the damages cause by Accelerated Capital. Weltz Law is a New York based law firm that regularly represents individuals and businesses in FINRA and AAA arbitration proceedings and litigation in state and federal courts in New York and throughout the country. You can contact us through the online form or at 877-558-1576 to set up a consultation regarding your case and to find out how the FINRA process works.