If You Suffered Losses Related to Fixed Index Annuities with John Carl Blanck, Please Contact the Law Firm of KlaymanToskes

NEW YORK, NY, UNITED STATES, December 17, 2024 /EINPresswire.com/ -- National investment loss and securities lawyers KlaymanToskes issues and important notice to customers of financial advisor John Carl Blanck and The Leaders Group, Inc., after their recommendations of fixed index annuities caused two investors $100,000 in damages. The law firm urges all customers of John Carl Blanck and The Leaders Group who suffered investment losses to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the firm has filed a FINRA arbitration claim (Case no. 24-02565) against The Leaders Group, Inc. (“TLG”) on the behalf of two retired investors who are seeking to recover damages of $100,000, in connection with being recommended to invest in unsuitable fixed index annuities by their financial advisor, John Carl Blanck (CRD# 5251950).

According to the claim filed by KlaymanToskes, the customers invested in the fixed index annuities based on alleged material representations made by Blanck and The Leaders Group that the annuities would generate monthly income while protecting their principal. Blanck recommended that the customers invest over 35% of their liquid net worth – totaling $221,000 – in fixed index annuities that locked up their retirement savings for ten years. Despite assurances from Blanck that the annuities would provide income, the customers later discovered that their monthly payouts were actually withdrawals from their principal, not returns on investment.

KlaymanToskes’ investigation found that the annuities restricted withdrawals to 10% annually and imposed steep surrender charges of up to 10% if liquidated early. Additionally, the interest rate on the annuities dropped from 2.25% to a mere 0.025%, leaving the customers unable to meet their income needs or preserve their capital as intended. The Leaders Group allegedly failed to properly supervise Blanck, who also has a prior customer complaint disclosed for not disclosing that an annuity had surrender charges. In January 2023, John Carl Blanck ceased his employment with The Leaders Group, Inc., and he is currently registered as an investment advisor with Success Wealth Management.

Former customers of John Carl Blanck and/or any other financial advisor who suffered investment losses are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact

Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com

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