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  • Attorneys David Meyer and Matthew Wilson have been selected to the list of Super Lawyers since 2011 and 2015 respectively.

  • Attorney David Meyer is a member of the Million Dollar Advocates Forum, an organization recognizing attorneys who have secured million dollar cases.

  • Martindale-Hubbell® Peer Review Ratings™ has recognized attorney David Meyer as an AV Preeminent® attorney in High Ethical Standing.

  • Attorneys David Meyer and Matthew Wilson have received a 10 out of 10 “Superb” rating on Avvo, calculated based on stringent and exhaustive criteria.

  • Attorney David Meyer was selected as the 2015 Lawyer of the Year for Professional Malpractice Law – Plaintiffs for Columbus, OH by Best Lawyers®.

  • Meyer Wilson was ranked as a Tier 1 Best Law Firm for both Mass Tort Litigation / Class Actions – Plaintiffs and Professional Malpractice Law – Plaintiffs by U.S. News.

  • Attorney David Meyerhas been selected to the list of the Best Lawyers in America® for Mass Tort Litigation / Class Actions – Plaintiffs and Professional Malpractice Law – Plaintiffs every year since 2011.

What Is Variable Annuity Fraud?

There's no doubt that investment fraud is on the rise, and that older investors are a prime target. According to a 2010 Investor Protection Trust Survey, it's estimated that one in five seniors over the age of 65 has been taken in by financial fraud, which adds up to $7.3 million in the U.S. alone. Although many of the old tricks, like Ponzi schemes, still work, many fraudsters are turning to new tricks to take your cash and run with it. Variable annuity schemes are one of the newer ways unscrupulous brokers and financial advisors are targeting senior investors.

What Is a Variable Annuity?

A variable annuity, like other annuities, is an investment through a contract with a life insurance company and is used as a way to grow your assets tax-deferred and/or receive payments over your lifetime. The variable annuity is based on the performance of underlying investments.

What Goes Wrong with Variable Annuities?

A variable annuity can be appropriate for experienced investors who are willing to take the risks, but many seniors are being sold these investments as a "safe" way to bulk up retirement savings over a short period of time. Unfortunately, the safety of many of these investments is misrepresented or hidden under misleading statements.

It's important to understand that variable annuities usually:

  • Come with high surrender charges
  • Could have serious tax penalties
  • Don’t have "Guaranteed" Returns, as returns depend on the market
  • Are subject to high fees and commissions
  • Are really designed for the long term, not the short term

Before putting your money into variable annuities, be sure you ask questions, do your research, and understand what you're getting into and how it will work in your overall financial picture. If you have lost money on a variable annuity investment due to stockbroker misconduct, speak with one of our experienced and helpful investment fraud attorneys today. Meyer Wilson represents senior investors who have been the victims of investment fraud nationwide.

Need More Information?

Investment misconduct can be complex and confusing. That’s why we’re here to help you. Visit our Common Questions page to find in depth answers directly from our attorneys. Get More Answers
Have You Been a Victim of Investment Fraud?

You trusted your financial advisor with your money, but now you're left wondering what went wrong. If you or a loved one suffered losses because of investment misconduct, Meyer Wilson can step in and fight to recover your losses. The team of investment fraud lawyers at the firm has been helping people like you since 1999 by winning judgments, settlements and verdicts worth hundreds of millions of dollars against brokerage firms, financial advisors and banks.

Get Help With Your Case Now

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