In the past ten years, a number of large upstate banks have aggressively pursued the sales of speculative variable annuity, trust services, and investment product sales to bank depositors, who had formerly been invested primarily in safe certificates of deposit and other cash-nominated investments. Unfortunately, many bank depositors are lulled into a false sense of […]Read Post
Tim O'Connor's Blog
We have been representing a number of hardworking individuals approaching retirement age, who have been convinced to place a significant portion of their life savings in shady private placement investments. Private placements are generally illiquid and unmarketable investments usually designed for high net worth individuals. Investors in private placements are generally required by Regulation D […]Read Post
In the past year we have seen theft and embezzlement schemes whereby monies in IRA retirement accounts have been stolen by financial advisers with the diversion of monies from legitimate financial institutions. These accounts have been wrongfully transferred from accounts with The Hartford, Nationwide, MetLife, and SunLife America/Sun Life Financial. In each of these instances, […]Read Post
Many private employers in Upstate New York (National Grid, Finch Pruyn Paper, Kraft, Alcoa, to name a few) offer retirees two main retirement benefits options – a fixed annuity or a lump sum rollover. Fixed annuities are usually guaranteed payments for life, which can also be structured for payouts to surviving spouses. A rollover on […]Read Post
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