The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Joan Norton. According to her publicly available FINRA BrokerCheck report, Joan Norton has been the subject of multiple customer disputes over the course of her career.

Joan Norton is a Florida based securities broker. She has worked in the securities industry for thirty-one years. During her career, she has been registered with five different securities firms.

Her Registrations

  • Waddell & Reed (1987-2001)
  • FSC Securities Corporation (2001-2003)
  • Waterstone Financial Group (2003-2009)
  • Ausdal Financial Partners (2009-2016)
  • International Assets Advisory (2016-Present)

The Allegations

  • In February 2013, a customer alleged that Joan Norton failed to adequately explain the terms of an annuity. This case went to arbitration where the customer was awarded $1,240,000 in damages.
  • In March 2018, a customer alleged that Joan Norton misrepresented information on the new account form used for determining suitability. The customer also alleged that Norton only gave her a blank signature page and asked her to sign it. This case was settled for $5,100 in damages.

What are Annuities?

Annuities are investment vehicles that are designed for an individual to receive income during their retirement. It centers around an individual paying scheduled premiums up until their retirement date. After their retirement date, they begin receiving scheduled distributions that act as their income.

The truth about annuities is that they are incredibly illiquid. This is because there are incredibly high penalties charged to the investor when they withdraw from, or surrender, their annuity during its surrender period. This is a fact that often goes undisclosed when soliciting individuals to purchase annuities.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Joan Norton, please contact Oakes & Fosher for a free and private consultation.