Numerous civil complaints filed with the Office of Dispute Resolution of the
Financial Industry Regulatory Authority (FINRA) reveal that a number of retirees from National
Grid/Niagara Mohawk have fallen prey to improper investment sales tactics by financial advisors and
Notably, thousands of qualified retirees from National Grid/Niagara Mohawk
are offered the choice of either a fixed annuity, assuring monthly payments for life, or, alternatively,
a lump sum rollover distribution. With the lump-sum rollover distribution, National Grid/Niagara
Mohawk retirees are left to their own efforts in finding a financial advisor or stock broker to manage
In various localities in Upstate New York, a number of financial advisors
have aggressively sought out National Grid/Niagara Mohawk retirees, advising them against accepting
guaranteed fixed annuity options, suggesting that they could do better for retirees by actively
investing their monies from the lump-sum rollover option.
In many instances, these retirees have seen the value of their accounts
decline drastically through risky and inappropriate trading and poor investment selection, as well as
the overselling of variable annuities, coupled with the improper suggestion of an early withdrawal
option under Section 72t of the Internal Revenue Code.
We offer a free initial consultation to National Grid/Niagara Mohawk
retirees, who feel they have been victimized relative to their improperly-invested lump-sum retirement
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