Bernard Joseph Audet, of Newtown Square, Pennsylvania, a registered representative formerly associated with New England Securities, has been named in a customer initiated investment related civil action on April 12, 2017, based upon allegations that he breached his fiduciary duties to the customer and made misrepresentations concerning insurance products.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Audet has been identified in five additional customer initiated investment related disputes containing allegations of his misconduct while employed with New England Securities. Specifically, on December 23, 2004, a customer initiated investment related written complaint involving his conduct was settled for $30,654.07 in damages based upon allegations that Audet failed to apprise the customer regarding the premiums required to keep an insurance policy afloat.
Subsequently, on December 3, 2008, a customer initiated investment related written complaint involving Audet’s conduct was settled for $195,000.00 in damages based upon allegations that he failed to inform the customer about the tax liability associated with an insurance policy replacement. Then, on April 3, 2009, a customer initiated investment related written complaint regarding Audet’s activities was resolved for $48,173.19 in damages based upon allegations that he assessed fees to a customer for an insurance rider despite claiming that the customer would not be financially responsible.
Moreover, on April 25, 2011, a customer initiated investment related written complaint concerning Audet’s activities was resolved for $527,450.23 in damages supported by allegations that Audet made misrepresentations pertaining to a variable universal life insurance policy. On April 5, 2012, another customer initiated investment related civil action involving Audet’s conduct was resolved for $75,000.00 in damages based upon allegations that Audet failed to inform the customer about installment payments that had to be paid to the insurance company to keep the insurance policy in force.
Audet’s registration with New England Securities was terminated on January 2, 2015. Since March 25, 2017, he has been registered with MML Investors Services, LLC.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
