The brokerage and insurance units of Compass Bank were ordered to cough up money to compensate an elderly couple for duping them into buying one too many annuities.

Norma Jean Kresta, a financial advisor with BBVA Compass Investment Solutions in San Antonio, Texas, convinced John Wilkinson, a retired medical doctor, and his wife, Regina Wilkinson, to liquidate 108,195 shares of their inherited shares of Flower Foods Inc., and reinvest the money into two annuities they should not have purchased, according to an award posted on FINRA's arbitration database last month.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access