INVESTOR WARNING: John Hudnall, REITs, and Annuities
Have you lost money with financial advisor John Hudnall of San Francisco, California? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against John S. Hudnall. FINRA barred Hudnall from the securities industry regarding allegations that he purposely split up sales of REITs (real estate investment trusts) to a customer. Hudnall broke up the sales into a $40,000 purchase of the REIT through his brokerage firm, BancWest Investment Services, and $360,000 of the REIT through the issuing REIT company, so that he could avoid detection by BancWest.
FINRA also alleged that Hudnall gave money to his customers who purchased Jackson National annuities so that they would not cash out or surrender the annuities earlier then they wished. Hudnall did so in order to avoid paying back the commissions, as Jackson National would take the commission back if the customer surrendered the annuity within the first year of purchase.
John Hudnall was a financial advisor and registered representative of BancWest Investment Services from September 2010 to December 2012. He was also affiliated with U.S. Bancorp Investments from December 2012 to March 2015. He worked at a branch office in San Francisco, California. Hudnall has at least six customer complaints on his BrokerCheck report, which complain about annuities and real estate investments.
Brokerage firms like BancWest Investment Services have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Bellevue, Washington; Vancouver, Washington; and Chicago. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in California in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Hudnall, John FINRA Order
Click to view: Hudnall, John BrokerCheck 11.16.16
HAVE YOU LOST MONEY WITH JOHN HUDNALL OR BANCWEST INVESTMENT SERVICES?
CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION
Aaron Israels: (720) 599-3505
David Neuman: (206) 795-5798
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.