The allegations read: Claimants allege an advisor formerly associated with respondent allowed a now deceased client to make withdrawals from accounts owned solely or jointly by the client and allowed the client to surrender his insurance policy despite the advisor being aware of the client's alleged health issues. Claimants further allege the former advisor recommended an accountant to claimants who the former advisor then colluded with to convert funds from the claimants. In addition, claimants allege the former advisor charged excessive fees, made unsuitable investment recommendations, and failed to notify them regarding activity in their accounts. Claimants' causes of action are negligence, misrepresentation, failure to supervise, conspiracy to convert funds, breach of fiduciary duty, and unsuitability. Claimants allege compensatory damages of $2.5m, punitive damages, interest, fees and costs. At the final hearing, claimants requested damages of $5,324,441.22.
