Home / Adviser was not employee, supervision claim fails – Virginia Lawyers Weekly

Adviser was not employee, supervision claim fails – Virginia Lawyers Weekly

 Adviser was not employee, supervision claim fails – Virginia Lawyers Weekly


Where the owner of two annuities alleged Allianz Life negligently supervised her financial adviser who transferred proceeds from her annuities into a Ponzi scheme, her negligent supervision claim failed as a matter of law because the financial adviser was not an Allianz employee.

Background

On Oct. 21, 2019, plaintiffs filed a complaint against Allianz Life Insurance Company …

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