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Violation Tracker Individual Record

Company: Wealth Management Advisors, LLC
Penalty: $250,000
Year: 2009
Date: December 2, 2009
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Wealth Management Advisors and one individual agreed to pay a $250,000 civil penalty in settlement of allegations it failed to diligently investigate or prevent the submission of multiple life insurance policy applications with material misrepresentations, and failed to diligently investigate or prevent the submission of change of beneficiary forms.
Level of Government: state
Action Type: agency action
Agency: Minnesota Department of Commerce
Civil or Criminal Case: civil
Facility State: Minnesota
Facility City: New Brighton
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.