John Lawrence Abrams (also known as Jack Abrams), of Boca Raton, Florida, a stockbroker registered with Equitable Advisors LLC, was discharged by the securities broker dealer on August 28, 2023, based upon allegations that Abrams took a loan from a customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Abrams has been identified in five customer initiated investment related disputes containing allegations of his conduct while he was associated with securities broker dealers. On February 4, 2010, a customer filed an investment related complaint involving Abrams’s conduct, where the customer alleged that Abrams made unsuitable recommendations given her risk tolerance, and he engaged in unauthorized trading in ETFs.
On March 17, 2010, another customer initiated investment related complaint involving Abrams’s conduct was settled for $89,997.00 in damages based upon allegations that Abrams’s recommendation of Inverse or Leveraged ETFs within his managed account was not balanced and did not coincide with the customer’s investment profile.
On November 18, 2014, a different customer initiated investment related complaint involving Abrams’s conduct was settled for $42,500.00 in damages based upon allegations that Abrams made unsuitable recommendations in mutual funds and exchange traded notes during the time that he was associated with MetLife Securities.
Abrams was also referenced in a customer initiated investment related complaint filed on June 23, 2023, in which the customer requested $18,395.49 in damages. The allegations centered on Abrams failing to advise them of surrender charges on a variable annuity while he was associated with Equitable Advisors LLC.
In another case, a customer dispute filed against Abrams on June 26, 2023, alleged misrepresentation of material facts in connection with the sale of a variable annuity during Abrams’ association with Equitable Advisors LLC. However, this complaint was denied on August 4, 2023.
Abrams was associated with Equitable Advisors LLC in Boca Raton, Florida from November 1, 2021, to September 8, 2023. Prior to this, he was associated with Sagepoint Financial Inc. in Pinecrest, Florida from November 1, 2016, to July 26, 2021.