Published On: November 6, 2015

Stoltmann Law Offices is investigating Jacob Lerman, a former broker with Univest, who recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Lerman was accused of signing a client’s name to a product sponsor application without the knowledge or consent of the client. On May 8, 2012, Lerman entered into a Consent Order with the Pennsylvania Insurance Commission in which he admitted forging client signatures. He was ordered to cease and desist, disgorge the commissions earned on the policies and fined $3,000. He was then barred from the industry by FINRA.

Jacob Lerman was registered with Morgan Stanley in Jenkintown, Pennsylvania from September 2012 until July 2013, Merrill Lynch in Elkin Park, Pennsylvania from October 2013 until June 2014 and Univest Investment in Souderton, Pennsylvania from June 2014 until September 2014. He is not licensed within the industry and has been permanently barred.

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