Great-West Life & Annuity Insurance Co. and its Empower Retirement unit have filed a lawsuit against Empower Geographics Inc. and its president for threatening to sell the empower.com domain to Empower Retirement's competitors “and professional cybersquatters.”
According to a suit filed in federal court in Illinois, Great-West accuses Empower Geographics, which is based in the Chicago suburbs, of trademark violations, deceptive trade practices and unfair competition. It charges that from June 2016 on, the Empower site “appeared to be solely used for the purposes of advertising the sale of the domain.”
The suit says that negotiations between the parties have failed as a result of the defendants’ demands.
Great-West is seeking “actual damages, lost profits, consequential damages, exemplary damages, statutory damages, and any other damages allowable under law.”
Most firms place a limit on advisors’ sales of alternative investments to clients in the neighborhood of 10% a customer’s net worth.
Those jumping ship include women advisors and breakaways.
Firms in New York and Arizona are the latest additions to the mega-RIA.
The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.
“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.