Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on February 14, 2017 indicate that Illinois-based ON Equity Sales Company broker Terri Wetzel has been named in a pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Ms. Wetzel (CRD# 4358778).
Terri Wetzel has spent twelve years in the securities industry and has been registered with the ON Equity Sales Company in Champaign, Illinois since 2004. She has no previous registrations. She has passed two securities industry examinations: Series 63 (TKTK) and Series 6 (TKTK). She is a registered broker with nine US states and territories: Florida, Illinois, Indiana, Iowa, Kentucky, North Carolina, South Carolina, Virginia, and Wisconsin.
According to her BrokerCheck report, Terri Wetzel has received one pending customer complaint.
In October 2016 a customer alleged Terri Wetzel, while employed at the ON Equity Sales Company, mismanaged her portfolio in connection to investments in variable annuity, mutual fund, equity listed and insurance products. The customer is seeking $6,900,000 in damages in the pending complaint.
Variable annuities are similar to mutual funds, though they have three primary additional features which mutual funds do not: a tax-deferred treatment of earnings, a death benefit, and payout options that can provide guaranteed income for the rest of the investor’s life. One of the common complaints regarding variable annuity investments is that a broker or investment adviser failed to inform an investor about the various sales charges and fees associated with variable annuities. In particular, many aggrieved investors file complaints with brokers who, they allege, failed to educate them about a variable annuity’s surrender charge. A surrender charge is a sales fee incurred when investors withdraw money from the variable annuity within a certain period of time after the purchase—typically within six to eight years, though the specific number depends on the product. Surrender charges are typically used to pay a commission to your broker or investment adviser, and are typically a percentage of the amount withdrawn. Brokers who fail to properly educate their customers about a product’s surrender charge may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Terri Wetzel, call Fitapelli Kurta at 877-238-4175 without delay. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.