Our Blog

Kathleen Tarr at Royal Alliance and SII Investments – Under Investigation

  • Image
  • 1

Broker Investigation

Were you a customer of Kathleen J. Tarr at Royal Alliance Associates, in La Fayette, CA? We have an ongoing office investigation into the handling of customer accounts with Kathy Tarr and Royal Alliance.  There are many other customers who have lost significant retirement saving with Kathleen Tarr and Royal Alliance. For example, Doug Beal (sse photo), a former mechanic specializing in air-conditioning and fire detection, says he lost about $60,000 after rolling over money from the company’s plan into an individual retirement account.
This is awful, loss of money in more accounts than players on two football teams.  Kathleen Tarr finished up her career as a stockbroker at SII Investments, Inc., in San Ramon, CA from July 2010 to November 2012.  Kathleen Tarr was then terminated as a broker.
There are a number of complaints pending, which are very serious.  This broker recommended and advised that people take early retirement, withdraw their pensions,  and transfer the money her and Royal Alliance to manage.  Royal Alliance and Kathleen Tarr would then arrange for the customer to take 72t withdrawals that were so high that they were unsustainable.   The broker and Royal Alliance then recommend and sold her only Variable Annuities and a non-traded illiquid
REIT.   The stockbroker, Kathleen Tarr, was later fired for sales practice violations, and had over thirty other customer complaints on record.
Our investigation is proceeding with our team on it.  We are actively seeking other wronged customers of Royal Alliance and particularly Kathleen Tarr to be expedited and given the highest attention in this office investigation.  It is a matter of significant urgency that all of the similarly situated customers of Kathleen Tarr and Royal Alliance be part of the investigation, in an effort to recover their losses.
This is particularly critical for former employees of AT&T who took the pension buy-out.  As the Court of Appeals wrote that the customers worked for AT&T Inc. as service representatives, clerks, and order writers for over 30 years each. Prior to retirement in 2007, AT&T presented each of them with two retirement options: to receive a lump sum or lifetime pension. They met with Kathleen J. Tarr, [a stockbroker] and a Royal Alliance employee.   The customers entered into standard customer agreements with Royal Alliance, which included a specification that any
dispute would be arbitrated. Two of the respondents told Ms. Tarr that they preferred the pension, because they needed regular monthly income to satisfy ongoing expenses, such as mortgage payments. The third told Ms. Tarr that she preferred the lump sum, because she needed money for down payments on a house and car. Some told Ms. Tarr that they wanted their “nest egg” funds in “conservative” and “safe” investments. In each case, respondents emphasized dependence on their retirement funds. Relying on Ms. Tarr’s advice that the lump sum would achieve a higher rate of return, respondents declined the pension and took the one-time payment. Soon the customers witnessed their retirement accounts dwindle faster than expected, leaving the customers without a real retirement.
We are leaders in recovering lost retirements for AT&T and Verizon employees who took the pension buyout.   We have handled many of these claims, especially where the long time employees taking the pension buyouts were mislead into putting the money into variable annuities and taking a monthly amount under IRS Code 72t.  We have helped many other people who have suffered in this way, and want to help you, too.


Contact one of our attorneys to get a no-cost, no-obligation consultation.
By phone: Call us toll-free at 1 (888) 986-9010
By email: Please fill out the form to the right


Show Comments (1)

This is a unique website which will require a more modern browser to work! Please upgrade today!