Gilman Law LLP’s Naples Florida Office is investigating claims on behalf of investors who were sold variable annuities with “guarantees”. Variable annuities are one of the most complex products on the street. Investment professionals often represent that there are certain guaranteed returns offered with certain variable annuities. However, these so-called guarantees are misleading. Annuities are not FDIC insured so investors are subject to the credit risk of the issuer. Furthemore, many of the guaranteed income features being sold to investors usually require the investor to forgo the principal investment in exchange for an income stream. Of course the income stream is also subject to credit risk of the issuer. As a result, many investors, particularly those that have purchased CD’s have been misled regarding the safety of the variable annuity they are being sold. Not surprising, variable annuities are one of the highest commission products on the street. If you have lost $100,000 or more in variable annuities you may have a claim for recovery.
Gilman Law LLP’s Naples Florida Office is a leading securities law firm helping recover for variable annuity losses. For a free evaluation of your case, call us to set up an appointment in our office (1-239-221-8401).