James Paul Kolf, of Madison, Wisconsin, a stockbroker formerly registered with MSI Financial Services, Inc., has been named in a customer initiated investment related written complaint on January 30, 2017, in which the customer requested $8,113.06.00 in damages based upon allegations that Kolf omitted information concerning the surrender penalties on a variable annuity contract.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Kolf has been named in four additional customer initiated investment related disputes containing allegations of his misconduct while he was employed with MSI Financial Services, Inc., and Signator Investors, Inc. Particularly, on November 11, 2016, a customer filed an investment related written complaint involving Kolf’s conduct, in which the customer requested $29,000.00 in damages based upon allegations that Kolf converted the customer’s funds to pay for Kolf’s personal expenses.
Subsequently, on December 8, 2016, a customer filed an investment related written complaint regarding Kolf’s activities based upon allegations that Kolf made misrepresentations to the customer regarding variable annuity products. On December 19, 2016, a customer filed an investment related written complaint regarding Kolf’s activities based upon allegations that Kolf effected life insurance transactions in the customer’s account which were not suitable.
Further, on December 29, 2016, a customer filed an investment related written complaint involving Kolf’s conduct, in which the customer requested $54,701.00 in damages based upon allegations that Kolf made unsuitable investment recommendations to the customer regarding a variable life insurance policy purchase.
Kolf’s registration with Metlife Securities Inc. was terminated on May 10, 2016. From May 25, 2016, to August 31, 2016, he was registered with NYLife Securities LLC.
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