The allegations read: Customers allege high pressure to invest in fixed annuity sales and complains that they were not informed of iar's insurance sales incentives, upward commission bonuses and other conflicts of interest involved in the sale of one particular insurance product family over other alternatives. Clients allege they were not informed that abeyta's insurance sales generated higher commissions incentivizing him to sell fixed annuities as opposed to products that potentially were commission free under standard awa/ria investment management fees. As a result, clients allege violation of reg. Best interest. Clients additionally allege violation of their privacy in that abeyta mailed their name to an unauthorized competing ria firm without their prior authorization.
