Jason Chi-Wei Fu of Flushing New York is a stockbroker currently registered with AXA Advisors, LLC who is the subject of a customer initiated investment related written complaint on February 19, 2018 where the customer alleged that Fu (1) failed to inform the customer about the terms and conditions of investing in variable annuities and (2) made unsuitable investment recommendations to the customer relating to the customer’s two variable annuity purchases.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Fu has been identified in three more customer initiated investment related disputes pertaining to allegations of Fu’s misconduct while employed with AXA Advisors, LLC and MONY Securities Corporation. Specifically, on October 15, 2002, a customer filed an investment related written complaint involving Fu’s conduct, alleging that Enterprise mutual funds sales had been executed by Fu in the customer’s account that the customer never authorized, and that four funds had been subsequently purchased without the customer’s consent.
Thereafter, on March 11, 2010, a customer initiated investment related written complaint regarding Fu’s activities was resolved for $124,975.00 in damages supported by accusations that the customer’s purchase of a variable annuity had been induced by Fu’s misrepresentations regarding the addition of a guaranteed minimum income benefit rider. Subsequently, on April 19, 2012, a customer filed an investment related written complaint involving Fu’s conduct, alleging that Fu sold the customer a variable annuity when the customer expected a fixed annuity to be purchased.
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