Public records provided by the Financial Industry Regulatory Authority (FINRA) on July 11, 2016 indicate that Washington-based Hornor Townsend & Kent broker/adviser Fernando Pohina has been the subject of a customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Pohina (CRD# 5624328).
Fernando Pohina has spent six years in the securities industry and has been registered with Hornor Townsend & Kent in Bellevue, Washington since March 2015. Previous registrations include Pruco Securities in Bellevue, Washington (2013-2014) and AXA Advisors in Bellevue, Washington (2009-2013). He is a registered broker and investment adviser with four US states: California, Colorado, Texas, and Washington.
According to his BrokerCheck report, Fernando Pohina has received one customer complaint and was discharged from his previous employer.
In 2014, Fernando Pohina was terminated from his position at Pruco Securities following allegations he “facilitated the use of unapproved marketing materials by registered representatives.”
In 2012, a customer alleged Fernando Pohina, while employed at AXA Advisors, misrepresented material facts related to a variable annuity investment. The complaint settled for a waiver of surrender charges.
In 2010, the Internal Revenue Service filed a tax lien totaling $15,043 against Fernando Pohina. The lien remains outstanding.
Variable annuities are similar to mutual funds, though they have three primary additionally features which mutual funds do not: a tax-deferred treatment of earnings, a death benefit, and payout options that can provide guaranteed income for the rest of the investor’s life. One of the common complaints regarding variable annuity investments is that a broker or investment adviser failed to inform an investor about the various sales charges and fees associated with variable annuities. In particular, many aggrieved investors file complaints with investors who, they allege, failed to educate them about a variable annuity’s surrender charge. A surrender charge is a sales fee incurred when investors withdraw money from the variable annuity within a certain period of time after the purchase—typically within six to eight years, though the specific number depends on the product. Surrender charges are typically used to pay a commission to your broker or investment adviser, and are typically a percentage of the amount withdrawn. Investors who fail to properly educate their customers about a product’s surrender charge may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Fernando Pohina, you may be able to collect lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.