According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Nixon (Nixon), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Nixon recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $25,000.00 on November 15, 2023.
In a written complaint received on November 15, 2023, addressed to Bankers Life and Casualty Company (BLC), an affiliate insurance company of Bankers Life Securities, Inc. (BLS), a client alleged she was pressured and rushed throughout the process of purchasing an annuity product. Additionally, the client states she did not understand the policy. The client further alleged an email address was created for her without her knowledge. The client states a DocuSign form was completed that she was not aware of and states “Sadly I feel this appears as forgery”. The client has asked to surrender her policy without incurring a surrender penalty. BLC determined that the terms of the annuity were disclosed to the client and denied these allegations. The allegation of forgery was not substantiated against the financial representative. While the product sold to the client was not a security and was issued by BLC, the Firm is reporting this complaint because the source of funding for the annuity came from the sale of securities recommended by a financial representative of the Firm and the allegation of forgery.
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