Michael Marlowe Jr. of Williamsville New York a stockbroker currently registered with Signator Investors Inc. is the subject of a customer initiated investment related written complaint on April 2, 2018 in which $5,000.00 in damages was requested based upon allegations that the customer was placed in a single premium immediate annuity that was not suitable for the customer since it had been effected while the customer suffered from dementia.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Marlowe is referenced in two more customer initiated investment related disputes pertaining to accusations of Marlowe’s sales practice violations during the period that he was employed by Signator Investors Inc.
Specifically, on August 2, 2014, a customer initiated investment related complaint regarding Marlowe’s activities was settled for $444,867.59 in damages based upon allegations that the customer was not provided adequate information relating to the terms and conditions of a variable annuity’s long-term care benefit, and had been switched into a variable annuity that was not suitable for the customer. The customer contended that the annuity sold to the customer failed to provide a meaningful benefit compared to the customer’s former annuity.
On March 27, 2009, another customer filed an investment related complaint involving Marlowe’s conduct where the customer alleged that omissions had been made concerning the terms and conditions of a variable annuity purchased by the customer.
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