Advisor Group Seeks at Least $900K From Venerable in Lawsuit

May 11, 2021 by Jeff Berman

Advisor Group is seeking at least $900,000 from Venerable Insurance and Annuity Co. and Directed Services, alleging the variable annuity firm and its affiliate breached the terms of a marketing and support agreement by abruptly terminating the deal and payments made to the broker-dealer under the pact.

In a complaint filed against Venerable and Directed Services in U.S. District Court for the Eastern District of Pennsylvania, Advisor Group said that, on or about Aug. 31, 2015, the defendants entered into a letter agreement with the BD under which Advisor Group would provide marketing services and support to Venerable and Directed Services for certain insurance products.

Click HERE to read the full story via ThinkAdvisor

Originally Posted at ThinkAdvisor on May 3, 2021 by Jeff Berman.