Public records published by the Financial Industry Regulatory Authority (FINRA) on April 6, 2017 indicate that Virginia-based AXA Advisors broker/adviser James Jacobs has been the subject of customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Jacobs (CRD# 256420).
James Jacobs has spent 46 years in the securities industry and has been registered with AXA Advisors in Chesterfield, Virginia since 1980. He was previously registered with the Equitable Life Assurance Society of the United States in New York, New York. He is a registered broker and investment adviser with nineteen US states and territories.
According to his BrokerCheck report, James Jacobs has received two customer complaints.
In October 2016 a customer alleged James Jacobs, while employed at AXA Advisors, did not properly inform her of the fees and charges associated with a variable annuity investment purchased in August 2016. The complaint reached a non-monetary settlement.
In 1997 a customer alleged James Jacobs, while employed at the Equitable Life Assurance Society of the United States, misrepresented material facts related to unsuitable investments in a limited partnership and a mutual fund product. The complaint settled for $55,000.
A mutual fund is a class of investment that combines a collection of stocks, bonds, or other securities. The collection is referred to as a portfolio. Each share of a portfolio represents the investor’s ownership of the fund’s holdings and the income generated by these holdings. Mutual funds typically generate money for investors either by way of dividends on stocks and interests on bonds, or a capital gain on the sale of securities. Mutual funds also allow you to receive a check for the distributions or simply reinvest the earning into more shares. They are often inexpensive and easy to purchase; they also generally allocate risk well, and bring the benefit of professional management. But they may also come with hidden fees, and trigger a capital gains tax when a fund manager sells a security. Brokers and investment advisers who engage in misconduct related to mutual fund investments may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you or someone you know has a complaint regarding James Jacobs, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.