BOCA RATON, Fla., Feb. 4, 2011 (GLOBE NEWSWIRE) -- The Securities Law Firm of Menzer & Hill, P.A. www.suemyadvisor.com, announced today it filed an arbitration claim against Wells Fargo Advisors LLC ("WFA"), a subsidiary of Wells Fargo & Company (NYSE:WFC) on behalf of a 79 year old retired investor.
The Claim alleges that WFA and its broker were negligent advising the Claimant regarding his variable annuity, which negligence ultimately caused the complete loss of an accumulated death benefit. Despite annual reviews with his broker, simple changes were never made, which could have easily prevented the unfortunate losses sustained in the account.
Michael Hill, Managing Partner with the Securities Law Firm of Menzer & Hill, P.A., says, "it's becoming clearly evident that many financial advisors lack the understanding or knowledge of annuities, and it's the innocent investor who ends up suffering."
If you have sustained annuity or other investment losses, please contact the Securities Law Firm of Menzer & Hill, P.A. at 888-923-9223, or visit us on the web at www.suemyadvisor.com for a free case evaluation.