Ohio National broker pitched VA trades as ‘infinite banking’: Finra
The B-D's $1.3 million settlement with the regulator involves its failure to supervise adequately a complex series of transactions involving variable annuities and whole life insurance policies.
A top-selling broker at a broker-dealer owned by Ohio National Financial Services for years recommended an unsuitable investment strategy to clients involving variable annuities and whole life insurance policies that he characterized as "building your own bank" or "infinite banking," according to th
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