Zamansky LLC Investigates Former Wells Fargo Financial Advisor Matthew Maczko

We are investigating Matthew Maczko, the former financial advisor employed by Wells Fargo Advisors LLC from 2008 through 2016, and its branch office in Oakville, Illinois.   The Financial Industry Regulatory Authority (“FINRA”) recently suspended Mr. Maczko’s stockbroker’s license and barred him permanently from conducting any securities business.   According to FINRA, Mr. Maczko allegedly churned the …

Zamansky LLC Investigates U.S. Virgin Island Bonds for Investors with Losses

The U.S. Virgin Islands share many of the same fiscal problems that have made Puerto Rico insolvent: high levels of debt, mounting pension obligations and a declining population.  It also has lost several large private employers. The Virgin Islands have a $110 million budget deficit, and recently failed at raising $220 million in new bonds.  This …

ZAMANSKY LLC WARNS INVESTORS ABOUT BUFFER ANNUITIES: VARIABLE ANNUITIES WITH STRUCTURED PRODUCTS

There is a new type of variable annuity called a buffer annuity that is beginning to gain popularity among financial advisors who sell these products. It is highly complex and uses structured products — not mutual funds — in the sub account as the underlying investment. FINRA has started to see complaints about these buffer …

Zamansky LLC Filed an ERISA Class Action Lawsuit for all Exxon Mobil Savings Plan Participants

On November 23, 2016, Zamansky LLC filed a class action lawsuit and has been appointed lead counsel on behalf of all current and former employees of Exxon Mobil Corporation (“Exxon”) who were participants in the Exxon Mobil Savings Plan (the “Plan”).  The lawsuit alleges violations of the federal Employee Retirement Income Security Act (“ERISA”) by …

Senfina Advisors Shut Down By BlackRock Advisors Over Its Steep 2016 Losses.

On December 20, 2016, Blackstone Group LP, the large asset manager, announced that it was shutting down its two-year old Senfina Advisors after it lost 24 percent in 2016.  The $1.8 billion Senfina Advisors was an in-house multi-manager fund that was supposed to offer a fund of the firm’s best ideas across different management teams.  …

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