The allegations read: Client alleges violation of his privacy in that abeyta released his personally identifiable information information without his authorization. "with over thirty years working with commercial and government entities in electronic records compliance i, more than most, understand the gravity of this breach of customer data. Gramm-leach-bliley was enacted to protect personally identifiable information (pii) used by financial institutions (companies that offer consumers financial products or services like loans, financial or investment advice, or insurance). The actions taken by chris abeyta is a direct violation of the law and i am making a formal complaint regarding this violation. In addition, i am also including in my complaint all those who worked with or for chris at accelerated and participated in or knowingly allowed chris to violate the trust placed in him. I am providing this email as an official complaint regarding the unauthorized release of my personal information by chris abeyta to entities not approved by agreement with or contractually associated with accelerate wealth without my written approval." client also alleges unsuitable sale of fixed annuities. "in addition, in october i was ask by chris abyeta and mack bekeza to review my allianz accounts so i could improve my returns. If i had agreed to this change at least one of my accounts would have been moved to anew account resulting in new commissions with no direct benefit to me or my wife." client alleges that he was not informed of abeyta'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. Client also said he was not informed that awa insurance sales generated higher incentives to abeyta to sell insurance (and receive commissions) as opposed to standard awa/ria investment management fees. As a result of abeyta's failure to disclose these conflicts, alleges violation of reg. Best interest.
