Our firm is investigating Equitable Advisors, LLC financial advisor Rodrigo Jose Arauz (CRD# 6807507) of New York City for potential investment-related misconduct.
Financial Advisor’s Career History
FINRA BrokerCheck reflects that Arauz reported investment-related employment as a registered representative with Equitable Advisors, LLC from September 2017 to Present.
BrokerCheck also reflects prior investment-related employment as a registered representative with AXA Advisors, LLC from September 2017 to June 2020.
###[Broker Name] Fraud Allegations and Investor Complaints Explained
Customer Dispute (Settled) — Alleged Misrepresentation of Variable Life Policy Sold in 2019
BrokerCheck reflects one customer dispute reported as settled. According to the disclosure (reporting source: broker), the client alleged that Arauz “misrepresented a variable life policy sold in 2019,” listed as an insurance product.
Key reported dates and amounts include:
- Date complaint received: 11/01/2021
- Status date: 01/04/2022
- Alleged damages: $0.00 (the client did not specify an amount)
- Settlement amount: $6,511.00
- Individual contribution amount: $2,124.21
- Broker statement (summary): the firm agreed to cancel the policy and refund the premiums paid
Disclosures (for context)
- Customer dispute (settled) — Alleged misrepresentation of a variable life policy sold in 2019 → Settled for $6,511.00 (individual contribution $2,124.21).
To obtain a copy of Rodrigo Jose Arauz’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
What we evaluate in insurance-linked investment disputes
When complaints involve alleged misrepresentations tied to variable life insurance products, we typically review sales materials, policy illustrations, application paperwork, disclosures regarding costs and risks, and the contemporaneous notes reflecting what the investor was told at the time of sale.
Potential avenues for recovery
Depending on the facts, claims may be pursued through FINRA dispute processes and related proceedings, including theories tied to misrepresentations/omissions, unsuitable recommendations, and failure to follow required supervisory and documentation practices.
What investors can do now
If you believe you were misled about a variable life policy, preserve the policy contract, illustrations, premium history, and any emails/texts used to sell the product, along with account statements showing how premiums were funded and any surrender/cancellation outcomes.
FINRA Rule 2111 (Suitability) generally requires that a broker have a reasonable basis to believe a recommendation is suitable for the customer based on the customer’s investment profile. In a complaint alleging a misrepresented variable life policy, suitability issues frequently overlap with whether the product aligned with the customer’s objectives (e.g., insurance need vs. investment features), risk tolerance, time horizon, liquidity needs, and ability to bear ongoing premium and cost burdens—particularly if the customer alleges the product’s features, costs, or risks were not accurately described at the point of sale.
FINRA Rule 2210 (Communications with the Public) governs broker-dealer communications, including requirements that communications be fair and balanced and not omit material information. Where the allegation is that a variable life policy was “misrepresented,” Rule 2210 can be implicated because sales presentations, written materials, and illustrations should not present benefits without appropriate context about limitations, risks, and costs; omissions or misleading framing can become central when a client claims they were induced into a product based on inaccurate or incomplete explanations.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) broadly requires brokers to observe high standards of commercial honor and just and equitable principles of trade. Allegations of misrepresentation in connection with recommending and selling an insurance-linked product commonly implicate Rule 2010 because providing inaccurate or incomplete information to a customer—especially about a product’s nature, fees, or how it is expected to perform—can fall below the ethical and fair-dealing standards FINRA expects of registered representatives.
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.