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Important information
- Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct:South Dakota Division of Insurance v. Equis Financial LLC
On December 19, 2022, the business entered into a Consent Order with the South Dakota Division of Insurance. The Consent Order settles allegations that the business sent mailers to South Dakota consumers that contained misleading and deceptive information in violation of SDCL §§ 58-33-5; 58-33-6; 58-33A-10; and ARSD 20:06:10:03; ARSD 20:06:10:04; ARSD 20:06:10:14(1)(4).
Under the terms of the Consent Order, the business agreed to:
- Pay a monetary penalty in the amount of $17,000 to the South Dakota Division of Insurance.
- Conduct itself in accordance with the insurance laws and regulations of the State of South Dakota.The Consent Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law.
- Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct:Minnesota Department of Commerce v. Equis Financial LLC
On March 29, 2022, the business entered into a Consent Order with the Minnesota Department of Commerce. The Consent Order settles allegations that the business violated Minn. Stat. §§ 45.027, subd. 7(a)(3), 60K.43, subd. 1(1), 60K.54, subd. 1, and 72A.20, subd. 2 (2020); and Minn. R. 2790.0400, subps. 1, 3-4 and 2790.0800, subps. 1-2 (2019) by sending mailers to Minnesota consumers that failed to prominently disclose the identity of the agent, agency, and/or insurer and by submitting a license application containing false or inaccurate information.
Under the terms of the Consent Order, the business agreed to:
- Pay a civil penalty in the amount of $15,000 to the State of Minnesota and an additional $20,000 stayed penalty if the business fails to comply with any of the terms of the Order or Minnesota's insurance advertising laws and rules.
- Pay investigative costs in the amount of $450 to the State of Minnesota.
- Refrain from sending any mailers to Minnesota residents for a period of one year from the date of the Order.
- Comply with Minnesota's insurance and advertising laws and rules if the business resumes sending mailers to Minnesota residents after a period of one year.The Consent Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law.
Overview
BBB Accredited Since: 8/2/2017
Years in Business: 9
BBB Accreditation & Rating
Business Details
- BBB File Opened:
- 5/13/2016
- Business Started:
- 7/14/2015
- Business Started Locally:
- 7/14/2015
- Business Incorporated:
- 7/14/2015
- Type of Entity:
- Limited Liability Company (LLC)
- Alternate Names:
- Equis Financial
- Business Management:
- Mr. Robert A. Jones, CEO
- Mr. Paul Willoughby, Accountant
- Mr. Barry Clarkson, President/CEO
- Ms. Emily White, Senior Vice President
- Number of Employees:
- 35
Additional Contact Information
- Principal Contacts
- Mr. Barry Clarkson, President/CEO
- Customer Contacts
- Mr. Robert A. Jones, CEO
- Mr. Paul Willoughby, Accountant
- Mr. Barry Clarkson, President/CEO
- Ms. Emily White, Senior Vice President
Licensing information
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
BBB records show a license number of 1000443841 for this business, issued by Insurance Commission, NC
Insurance Commission, NC
1201 Mail Service Ctr
Raleigh NC 27699
BBB records show a license number of 008341997 for this business, issued by Insurance Commission, NC
Insurance Commission, NC
1201 Mail Service Ctr
Raleigh NC 27699
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