Dan Edward Droeg (CRD #1509210, Chandler, Arizona)

March 3, 2022 – An AWC was issued in which Droeg was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Droeg consented to the sanction and to the entry of findings that he converted assets of a trust by using his authority as trustee to surrender a variable annuity owned by the trust and then transferring over $878,000 from the trust’s bank account to his own bank accounts, a portion of which he distributed to the trust’s beneficiaries and withdrew the remainder for personal use. The findings stated that the trust was created by its two beneficiaries, a senior, married couple with no familial relationship to Droeg. In accordance with the trust documents, Droeg had authority to invest the trust’s assets and to establish and control bank accounts in the trust’s name. (FINRA Case #2021072636101)