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Greg Crance: Complaints Against OneAmerica Broker
Investor complaints against Alabama OneAmerica Securities broker Greg Crance (CRD# 736820) allege activity including disclosure failures and factual misrepresentations. One such complaint reached a settlement of more than $235,000. Crance is employed with OneAmerica Securities in Auburn, Alabama, where he has been employed since 2013, according to information drawn from Financial Industry Regulatory Authority records.
Three February 2019 pending customer complaints against Greg Crance all contain similar allegations concerning his conduct while employed at OneAmerica Securities. Specifically, they allege violations of securities and common law stemming from the recommendation of investments in fixed annuity products. In each of the three pending complaints, the claimant alleges damages of $50,000.
Greg Crance allegedly failed to be complete in his disclosure of tax consequences incurred by a variable annuity free-look, according to a 2017 complaint concerning his employment at OneAmerica Securities. The complaint reached a settlement constituting the firm reversing the free-look, at a cost to the firm of
Greg Crance allegedly undertook unspecified activities when he sold a welfare benefit plan that led to him being named in a bankruptcy filing, according to a 2010 customer complaint concerning his employment at OneAmerica Securities. The complaint reached a settlement of $235,288.85.
He also allegedly “made false representations” concerning the “benefits and advantages” of a retirement plan, according to a 2004 customer complaint concerning his conduct at Princor Financial Services. The complaint reached a settlement of $50,000.
Greg Crance is presently employed at OneAmerica Securities in Auburn, Alabama; his employment there commenced in 2013. His employment history includes Signator Investors, OneAmerica Securities, Berthel Fisher & Company Financial Services, Princor Financial Services Corporation, Equico Securities, the Equitable Life Assurance Society of the United States, and Penn Mutual Equity Services. In 2003 he was terminated from Princor Financial Services over his alleged “failure to report outside business activities.” In a statement concerning this termination, he said: “I was not conducting outside business activity. My name appeared as corporate officer on 304 corporations that are no longer in existence. I was not a stockholder nor did I ever receive income from these entities that are on file.” He is registered with six states and has passed three securities industry qualification examinations. (Information current as of August 7, 2019.)