Patrick Dennis Farrell of Huntingdon Valley Pennsylvania a stockbroker formerly registered with Securian Financial Services Inc. is the subject of a customer initiated investment related written complaint which settled for $146,677.22 on January 2, 2018 founded on allegations that Farrell misrepresented the terms and conditions of insurance and annuity products that had been sold to the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Farrell is referenced in three more customer initiated investment related disputes pertaining to accusations of Farrell’s misconduct during the time that he was associated with Securian Financial Services. Specifically, on November 15, 2008, a customer initiated investment related complaint regarding Farrell’s conduct was resolved for $24,873.82 in damages supported by allegations that Farrell omitted from the customer that sales charges would be assessed by way of the customer’s purchase of annuities and mutual funds.
Subsequently, on December 4, 2017, a customer filed an investment related complaint concerning Farrell’s conduct where the customer sought damages estimated to exceed $5,000.00 founded on allegations of misrepresentation regarding the customer’s annuity contract. Thereafter, on January 2, 2018, a customer filed an investment related complaint involving Farrell’s activities in which the customer requested more than $5,000.00 in damages based upon accusations that omissions were made to the customer regarding the surrender charges incurred by the customer for replacing an existing annuity with a new annuity.
Farrell’s registration with Securian Financial Services, Inc. was terminated on July 25, 2017. Since October 2, 2017, Farrell has been employed by MML Investors Services, LLC.
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