Chase

State Farm & Chase Regulatory Issues

If you have any investments with State Farm, you should probably move them. Currently, State Farm has about 12,000 agents licensed to sell mutual funds and other retirement investment products. The policy of putting customers in commission-laden, proprietary State Farm mutual funds and variable annuities puts State Farm advisors in conflict with the DOL rule imposing on advisors a fiduciary duty to act in the customer’s best interest. These agent/brokers have previously been held to a less-stringent standard of suitability.