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Michael Hanson Has Received a Customer Dispute Concerning Variable Annuity Investments

Michael HansonPublic records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on May 30, 2018 indicate that California-based Royal Alliance Associates broker/adviser Michael Hanson has received a pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Hanson (CRD# 1832012).

Michael Hanson has spent eleven years in the securities industry and has been registered with Royal Alliance Associates in Camarillo, California since 2007. He was previously registered with Park Avenue Securities in Camarillo, California (2007). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on March 31, 2007; Series 65 (Uniform Investment Adviser Law Examination), which he obtained on March 26, 2007; and Series 7 (General Securities Representative Examination), which he obtained on March 19, 2007. He is a registered broker and investment adviser with eight US states: Arizona, California, Colorado, Florida, Hawaii, Maryland, Oregon, and Texas. He is registered with one self-regulatory organization (SRO): FINRA.

According to his BrokerCheck report, he has received one pending customer complaint.

In March 2018 a customer alleged Michael Hanson, while employed at Royal Alliance Associates, misrepresented material facts in connection to the sale of a variable annuity investment. The customer is seeking unspecified damages believed to exceed $5,000 in the pending complaint.

Variable annuities are similar to mutual funds, but with three other noteworthy features: a death benefit, a tax-deferred treatment of earnings, and payout options that can potentially give investors with a guaranteed income for the rest of their life. A common complaint made about annuity investments is that the broker of adviser did not inform the investor regarding sales charges or other fees associated with the product, for instance, the surrender charge: a fee incurred when investors withdraw money from the variable annuity within a certain period of time after its purchase, usually (but not always) within six to eight years. Such charges are usually used to pay a commission to the broker or investment adviser, and they are usually a percentage of the funds withdrawn. Brokers and investment advisers who fail to properly inform their customers about variable annuity investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.

If you or someone you know has lost money investing with Michael Hanson, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.