FINRA fined and suspended former American Fidelity Securities, Inc. representative Meghan E. Kassel of Rancho Murieta, California and Oklahoma for submitting an inappropriately altered customer questionnaire to the firm without the customer's acknowledgement or consent.
According to the findings, in 2011, Kassel submitted a variable annuity purchase application package to American Fidelity, including an Annuity/Investment Suitability Questionnaire signed by Kassel's customer.
American Fidelity discovered that the form's indicated expected age of use for the annuity would make the customer susceptible to potential surrender charges and directed Kassel to obtain the customer's approval and statement of awareness.
Instead, Kassel allegedly copied the Questionnaire document and changed the expected age of use by five years, from 60 to age 65, submitting the falsified document to American Fidelity without disclosing that the customer had not signed the altered Questionnaire.
In July 2012, American Fidelity terminated Kassel's employment as a result of the aforementioned alleged misconduct.
If you have invested with Meghan E. Kassel or with any broker, representative or adviser who has altered an application or other investment forms without first obtaining written (signed) approval to do so, and such falsification has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.