Camille Cordova Sanctioned for Unsuitable Variable Annuity Recommendations

FINRA fined and suspended former Equitable Advisors aka AXA Advisors of Woodland Hills, CA broker Camille Cordova for unsuitably recommending a trust formed by a senior married couple purchase a deferred variable annuity by using $540,000-worth of withdrawals from existing indexed annuities to pay for it.

According to AWC #2019064218702, Cordova recommended the variable annuity despite having advance knowledge that such a financial move could have negative tax consequences and, thus, might be unsuitable for the trust.

As a result, the trust suffered tax consequences and shortly thereafter, representatives of the trust filed a customer complaint about Cordova's conduct, ultimately settling the allegations of Cordova's unsuitable roll over recommendations for $312,500.

After leaving AXA Advisors, Cordova joined NYLife Securities in Glendale, California, where she remained until early 2022.

If you invested in former Equitable Advisors or NYLife Securities broker Camille Cordova or with any broker or financial adviser who unsuitably recommended you purchase an unnecessary or potentially harmful securities product by using proceeds from sale or liquidation of a different product in your account, and this resulted in damages such as fiscal losses, surrender charges and fees, or added tax liabilities, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Related Posts
  • As Credit Suisse Shareholders Suffer Losses, AT1 Bond Holders Lose Everything Read More
  • Beverly Hills Broker Antoine Souma Barred After Failing to Cooperate with FINRA Investigation Read More
  • Centaurus Financial Penalized $1 Million for Unsuitable Structured Product Sales Read More