Financial Advisor in San Jose Barred for Pushing Unsuitable Variable Universal Life Policies on Unsophisticated Investors.

Angelo Xagoraris of TransAmerica Financial Advisors was recently barred from the securities industry for violation of FINRA’s suitability and other rules. Mr. Xagoraris sold variable universal life policies to unsophisticated divorcées who could not afford the monthly premiums. In order to complete these annuity sales, Mr. Xagoraris provided false and misleading information to both the investors and the company providing the insurance. Variable Universal Life policies combine elements of a mutual fund and life insurance policy, and pay hefty commissions to the financial advisors who sell them. If you have suffered losses through the purchase of a life insurance policy or annuity, contact the attorneys at Investor Defense Law LLP at no charge to find out whether you can recover your losses.

Investor Defense Law LLP is a law firm dedicated to helping investors in California, Georgia, and Washington recover losses caused by stockbrokers, financial advisers, or investment firms. To learn more, contact an investment fraud attorney at 800.487.4660.