Erven Joseph Frericks Jr. of Chesterfield Missouri a stockbroker formerly employed by Royal Alliance Associates Inc. has been discharged by the firm on May 11, 2018 supported by allegations that Frericks urged a customer to designate him as the beneficiary of half of the assets held in the customer’s annuity account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on May 1, 2018, a customer filed an investment related complaint involving Frericks’ conduct where the customer sought $54,976.00 in damages founded on accusations that Frericks charged the customer excessive fees in regard to his advisory services, and inappropriately steered the customer towards making Frericks a beneficiary of the customer’s variable annuity.
