Published on:

Broker Barry Link Received a Regulatory Sanction

Barry LinkPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on November 25, 2016 indicate that Florida-based World Equity Group broker/adviser Barry Link has received resolved or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Link (CRD# 847567).

Barry Link has spent 38 years in the securities industry and has been registered with World Equity Group in Fort Myers, Florida since 2001. Previous registrations include Ogilvie Securities Advisors in Chicago, Illinois; American General Securities in Phoenix, Arizona; USLife Equity Sales in New York, New York; Federation for Financial Independence; Titan Capital; and Metropolitan Life Insurance Company. He is a registered broker and investment adviser with 27 US states and territories.

According to his BrokerCheck report, Barry Link has received one customer complaint, one pending customer complaint, and one regulatory sanction.

In September 2016 a customer alleged Barry Link, while employed at World Equity Group, acted negligently and breached his fiduciary duty in connection to a variable annuity investment. The customer is seeking $400,000 in damages in the pending complaint.

In 2004 the State of Illinois Department of Insurance sanctioned Barry Link following allegations he entered incorrect information on an insurance renewal application. He was issued a fine of $1,000.

In 2003 a customer alleged Barry Link, while employed at World Equity Group, misled her regarding a variable annuity product. The complaint settled for $100,000.

Variable annuity products are similar to mutual fund products, but with three noteworthy additional features: 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. A common complaint connected to variable annuity investments is that a broker or investment adviser failed to inform an investor of sales charges and fees associated with the product. Many aggrieved investors file complaints with brokers 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. Brokers 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 complaints regarding Barry Link, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.