The allegations read: Client claims that she did not fully understand her va investment at the time of purchase through a former cfs representative in december of 2011. Client alleges that she was not properly informed as to investment risk and product details and now has an immediate need for the invested principal requiring full surrender. A cfs review confirmed that all material product features and required disclosures were made both verbally and in writing as evidenced on signed documentation. As of this filing date, cfs continues to review and discuss options for resolution with the client.
accommodation settlement with client for surrender charges incurred in the amount of $492.35 as
the result of a partial surrender of va in january of 2015. Client confirmed satisfaction with reexplanation
of va and working relationship with new advisor at branch and will continue to maintain
investment.
