A National Securities Arbitration & Investment Fraud Law Firm

Marcos Yanez, former LPL Financial Broker Under Investigation Over Variable Annuities Misrepresentation Allegations

Silver Law Group is investigating former Dallas, Texas-based LPL Financial LLC (CRD# 6413) broker Marcos Yanez (CRD# 5353857) over allegations that Yanez misrepresented certain aspects in the sale of a variable life insurance policy amidst other allegations.

According to Yanez’s FINRA BrokerCheck report, a customer filed a complaint against Yanez in March 2017.  The FINRA arbitration complaint alleges misrepresentations in the sale of a variable life insurance policy, and that Yanez advised the customer to take out a margin loan in order to loan money to the advisor.

LPL Financial employed Yanez from December 2011 to March 2016 at its Dallas, Texas branch.  According to Yanez’s detailed CRD report, Yanez operated under the moniker Staib Wealth Management from February 2014 until the name changed to Silver Sail Wealth Advisors in February 2015.  Yanez is no longer registered with FINRA.

Variable annuities (“VAs”) are highly-complex financial products.  According to FINRA, a good way to think of a VA is as a cross between an insurance product and an investment product.

Like other annuities, a VA is a contract between the investor and an insurance company.  The investor pays the insurer a single payment or a series of payments called premiums.  In exchange for those premiums, the insurer promises to make periodic payments to you either immediately or at some point in the future.

Variable annuities are often sold to elderly individuals.  Just like other financial products, insurance agents and stockbrokers are required to make sure that whatever they recommend is suitable for that individual.

Our attorneys are experienced handling cases involving variable annuities and have recovered thousands of dollars on behalf of aggrieved investors through FINRA arbitration.  Our firm also is dedicated to pursuing claims on behalf of aggrieved elderly investors and has an entire site devoted to the issue.

FINRA arbitration is a fast, efficient way to recover your lost investment funds.  We work on a contingency fee basis, meaning you pay us nothing unless we win and recover money for you.

If you have invested with Marcos Yanez and LPL Financial and have lost money doing so, you may be able to recover some or all of your losses.  Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.

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