From May 23, 2003 through October 22, 2010, Jerod Wurn was registered with LPL Financial. Effective October 22, 2010, Mr Wurn became registered with Morgan Stanley in Roseville, CA.
On June 13, 2012, Mr. Wurn and FINRA entered into an order accepting offer of settlement in connection with Disciplinary Proceeding No. 20080153649-01. According to the order, Mr. Wurn recommended that a 53 year old widow with a modest income. In 2006 the customer refinanced her home mortgage, receiving over $300,000 in equity from the transaction. Jerod Wurn recommended that the window invest $300,000 in a variable annuity to be paid for with the proceeds of the loan. According to FINRA’s order, Mr. Wurn knew that the window had limited income and should have known that her limited retirement income and liquid assets would have been insufficient to make her mortgage payments.
In addition to this complaint, Mr. Wurn also has one disclosed customer complaint, which has settled. The complaint sought $360,000 in damages arising from the alleged sale of unsuitable investments by Jerod Wurm.
As a result of the foregoing disciplinary complaint, Jerod Wurn consented to a fine of $5,000 and a suspension of ten (10) business days. For more information on Mr. Wurn’s suspension and fine, please visit FINRA’s website.