Category Archives: Lincoln Financial Network

Douglas C. Robb-Former Cuso Financial Services Broker-Discloses Termination From Employment

Port Chester, New York

According to FINRA records,  Douglas C. Robb, Jr.   a stockbroker who was recently employed by Cuso Financial Services , discloses  a termination.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Robb was employed by Cuso Financial Services from 5/2012-4/2016. He was permitted to resign from Cuso Financial in 4/2016 for violation of firm special supervision program for failing to secure pre-approval of a variable annuity transaction.

Robb’s prior employment includes Lincoln Financial Distributors from 5/2006-5/2012.

If you have questions about an account handled  by Douglas C. Robb, Jr. , call for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 


Sun Life Annuities Can Be A Problem for Investors

Especially if the annuities subaccounts are investing in hedge funds.

FINRA recently investigated the following  firms in connection with  variable annuities( Foresee Strategies Insurance Funds and Sala Multi Series Fund) issued by Sun Life Financial, Inc. that contained sub-accounts with hedge fund investments:

  • Geneos Wealth Management
  • Lincoln Financial Network
  • National Planning Corp.
  • SagePoint Financial, Inc.
  • FSC Securities 

The strategy of the subaccount manager was to invest in options in the S&P 500, using both put and call options. This strategy is known as a strangle and counts on the hope that the market doesn’t move very hard up or down. In a period of high volatility, as happened in Septmeber 2008, this strategy does not work. In this case the subject annuities were nearly wiped out completely. 

There are lots and lots of annuities out there and investors need to be very wary when purchasing one. Variable annuities tend to be riskier because they are dependent upon the ups and downs of the stock market. Principal is not generally guaranteed in variable annuities so when the markets go down, the variable annuity will lose money. This may not be suitable for those on fixed incomes who are dependent upon their nest egg to survive and who cannot afford to lose capital.

If you have questions about your stock brokerage account, please give us a call. We have been helping investors recover stock market losses for 25 years.

Nationwide representation

Free consultation.

Rex Securities Law

561 391 1900