Aaron Wagner (CRD# 5663584) is a former financial advisor who was registered with Hornor, Townsend & Kent, LLC and previously associated with AXA Advisors, LLC and Pruco Securities, LLC, with reported office locations including Boise, Idaho and Bellevue, Washington.
Financial Advisor’s Career History
Aaron Wagner entered the securities industry in or around 2009. According to FINRA records, he was registered with AXA Advisors, LLC from August 2009 through February 2013. He later became registered with Pruco Securities, LLC from February 2013 until October 2014. Wagner then joined Hornor, Townsend & Kent, LLC, where he was registered from March 2015 through July 2020. He is not currently registered with any FINRA member firm.
Aaron Clayton Wagner Fraud Allegations and Investor Complaints Explained
FINRA’s BrokerCheck report reflects multiple customer complaints and a termination following allegations of misconduct. These disclosures primarily involve alleged misrepresentations in the sale of variable annuity products and the use of unapproved marketing materials.
Variable Annuity Misrepresentation Allegations (2010–2012)
Several customer complaints arose from transactions occurring while Wagner was associated with AXA Advisors, LLC. Customers alleged they were not properly informed about the nature, fees, and surrender charges associated with variable annuity products.
Key allegations include:
- July 17, 2012: A customer alleged misrepresentation in the sale of two 2012 variable annuity contracts, stating they were unaware they had purchased annuities and did not receive adequate disclosure of fees and charges. The matter was settled with the firm waiving surrender charges, resulting in no reported customer loss.
- March 19, 2012: A customer alleged misrepresentation in the sale of a 2010 variable annuity. The complaint was denied after firm review.
- April 7, 2015: Customers alleged they were never informed of contingent withdrawal charges associated with a 2012 variable annuity purchase. The complaint was denied by the firm.
Summary of disclosed customer disputes:
- Customer Dispute (2012): Alleged misrepresentation of 2012 variable annuities — Settled, $0 paid
- Customer Dispute (2012): Alleged misrepresentation of 2010 variable annuity — Denied
- Customer Dispute (2015): Alleged failure to disclose surrender charges — Denied
Employment Termination for Compliance Violations (2014)
While registered with Pruco Securities, LLC, Wagner was discharged on September 15, 2014. The firm alleged that he used and facilitated the use of unapproved marketing materials by registered representatives. Wagner disputed the allegation but acknowledged that the materials were discontinued once the firm instructed that they be stopped.
Termination disclosure:
- Employer: Pruco Securities, LLC
- Termination Date: September 15, 2014
- Allegation: Use and facilitation of unapproved marketing materials
- Disposition: Discharged
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) requires financial advisors to have a reasonable basis to believe that a recommended investment is suitable for a customer based on their financial situation, risk tolerance, and investment objectives. Allegations that customers were unaware they had purchased variable annuities or were not informed of surrender charges directly implicate suitability concerns, particularly where complex, long-term products may not align with an investor’s needs.
FINRA Rule 2210 (Communications with the Public) governs the use of marketing and sales materials and requires that communications be fair, balanced, and not misleading. The allegations that Wagner used or facilitated unapproved marketing materials, as well as complaints asserting inadequate disclosure of fees and charges, fall squarely within the scope of this rule.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) requires brokers to observe high standards of commercial honor and just and equitable principles of trade. Customer allegations involving misrepresentation and nondisclosure of key product features, even when ultimately denied or settled without payment, are commonly evaluated under this broad ethical standard.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
