Boruch Gutter Allegedly Failed to Explain VUL Risks

Boruch Gutter (CRD #: 4709341), a broker registered with Equitable Advisors, was named in an investor dispute, according to his BrokerCheck record, accessed on October 30, 2024. If you want to learn more about his alleged conduct as a broker, keep reading.

Investor Dispute

On August 26, 2024, an investor alleged that Boruch Gutter failed to fully explain the nature of a variable universal life insurance (VUL) policy sold to the client in 2021, and also failed to explain the investment strategy and potential risks involved. This dispute was denied by the firm.

However, investors should know that firms can deny disputes without an external review. Investors can still seek out FINRA arbitration after a denial and can potentially recover their losses.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

What are VULs?

Variable Universal Life insurance policies (VULs) differ from other forms of life insurance because they invest a portion of investors’ premiums. Whether a VUL increases or decreases in value depends on the performance of its investments, so returns are not guaranteed.

Background Information

Boruch Gutter has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Boruch Gutter is a registered broker in 11 states.

Kurta Law Can Help

If you worked with Boruch Gutter and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.