Last Updated: January 2025 (Fort Lauderdale, FL)
Victor M. Torres Investigation Summary
Here’s what you need to know about Fort Lauderdale, FL, stockbroker Victor M. Torres:
- Name: Victor M. Torres
- Current Employer: Equitable Advisors, LLC
- Prior Employers: Equity Services, Sagepoint Financial, Northwest Mutual
- CRD Number: 5919902
- Function: Stockbroker / Financial Advisor
- Primary Location: Fort Lauderdale, FL
- Aliases: Victor Torres
- Can Victor Torres be sued in FINRA arbitration? Yes
- Sanctioned by FINRA: No
- Employment Separation after Allegations: Yes
- Highest Settlement or Award: $13,336
- Two Pending Customer Disputes Seeks Damages of: $200,000
If you’ve sustained damages from Mr. Torres, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Victor Torres As Your Stockbroker?
Victor M. Torres has been involved in multiple customer disputes related to the sale of variable insurance policies.
- Pending Arbitration (Case #24-02343): Filed on October 30, 2024, alleging that Mr. Torres made unsuitable recommendations for two variable life insurance policies marketed as tax shelters. The alleged damages are $150,000.
- Pending Arbitration (Case #24-02328): Filed on October 29, 2024, this case also involves allegations of unsuitable recommendations related to a variable life insurance policy and seeks $50,000 in damages.
- Settlement: A $13,336 settlement was reached in December 2021, involving allegations that Mr. Torres sold an unsuitable variable insurance policy in 2021.
Allegations of Broker Misconduct Against Victor Torres
Customers of Victor M. Torres have alleged the following misconduct in connection with the handling of their accounts:
- Unsuitable Investment Recommendations:
Several complaints allege that Mr. Torres recommended variable life insurance policies without considering the clients’ financial needs or objectives. These actions potentially violate FINRA Rule 2111 on suitability. - Misrepresentation:
Claimants assert that Mr. Torres marketed variable insurance products as tax shelters without properly disclosing the associated risks or suitability criteria, which could also constitute a violation of FINRA Rule 2020 (prohibiting deceptive or manipulative acts). - Employment Termination Following Allegations:
Mr. Torres voluntarily resigned from NMIS, LLC, in September 2013 while under internal review for allegedly failing to disclose material underwriting information on clients’ insurance applications.
FINRA mandates brokers to disclose all customer complaints, regulatory actions, and employment terminations, as these are critical indicators of professional conduct and compliance.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Victor M. Torres, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.