Bankers Life Securities

There are Recent Customer Complaints with Broker Daniel Corey in Firm Bankers Life Securities, INC.

December 4, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Corey (Corey), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Corey 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 $22,253.00 on March 14, 2022.

In a written complaint received on March 14, 2022, addressed to Bankers Life and Casualty Company (BLC), an affiliated insurance company, clients alleged that their financial representative recommended they cancel their term life policies held with another financial institution and purchase whole life policies, funding premiums with withdrawals from their securities account with the Firm. Clients further allege their income was insufficient to fund the new premiums and requested their life insurance policies be cancelled and all money be refunded. Clients also alleged that their financial representative recommended the purchase of a Premium Bonus Indexed Annuity (PBIA) from BLC in February of 2020 comprising a high percentage of their liquid net worth and subject to high surrender charges. BLC found that the both the life insurance policies and the annuity were suitable recommendations and denied the complaint, but as an accommodation refunded the premiums paid into their life insurance policies minus the costs and expenses of the insurance over the period of time they were held via a settlement and release. The financial representative did not contribute nor was we asked to contribute to the settlement. While the life insurance policies and the annuity sold to the client were not securities and were issued by BLC, the Firm is reporting this complaint because the source of funding came from the sale of, or income generated by, securities and were recommended by a financial representative of the Firm.

Broker Timothy Darnell in Bankers Life Securities, INC. Firm Has Customer Complaint

October 27, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Timothy Darnell (Darnell) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Darnell was employed by Bankers Life Securities, INC. at the time of the activity. If you have been a victim of Darnell’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $400,000.00 on September 30, 2025.

The arbitration alleges the RR made unsuitable recommendations, alleges breach of fiduciary duty, negligence, misrepresentation, and selling away related to an alleged Ponzi scheme with First Liberty Building & Loan, LLC

Broker Archie Hansley in Bankers Life Securities, INC. Firm Has Customer Complaint

October 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Archie Hansley (Hansley), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Hansley recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $26,613.00 on August 18, 2025.

Bankers Life and Casualty Company (BLC), an affiliated insurance company of Bankers Life Securities, Inc. (BLS), received a written complaint from a client and provided a copy to BLS on August 18, 2025. In the complaint, the client alleged that they were misled by their financial representative regarding the terms of three annuity contracts purchased through BLC in 2024. The client stated that they had requested investment products similar to those held with another firm, specifically a 401(k), Roth IRA, and savings account, but were instead sold annuity contracts. The client further alleged that they were not informed of the surrender charges associated with accessing their funds and is requesting that the annuities be canceled without surrender penalties. While the BLC annuities are not securities and were issued by BLC, the Firm is reporting this complaint because the annuities were funded by the recommendation to liquidate securities by a financial representative of the Firm.

Broker Timothy Darnell in Bankers Life Securities, INC. Firm Has Customer Complaint

October 7, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Timothy Darnell (Darnell) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Darnell was employed by Bankers Life Securities, INC. at the time of the activity. If you have been a victim of Darnell’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,000,000.00 on September 11, 2025.

The arbitration alleges the RR made unsuitable recommendations, alleges breach of fiduciary duty, negligence, misrepresentation, and selling away related to an alleged Ponzi scheme with First Liberty Building & Loan, LLC.

There are Recent Customer Complaints with Broker Anthony Alvarez in Firm Bankers Life Securities, INC.

September 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Anthony Alvarez (Alvarez), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Alvarez 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 $9,100.00 on February 17, 2023.

In a written complaint received by the Firm on February 17, 2023, addressed to a financial representative of the Firm, client alleged that he was not aware that he purchased a Guaranteed Lifetime Income Annuity (GLIA) in October 2021 from Bankers Life and Casualty Company (BLC), an affiliated insurance company. Client alleged he believed the assets used to purchase the annuity were being held in cash. Client requested to cancel the policy and a return of his funds. While the annuity 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.

Broker Adam Claussen in Bankers Life Securities, INC. Firm Has Customer Complaint

September 19, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Adam Claussen (Claussen), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Claussen 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 $13,078.51 on February 23, 2023.

When your financial advisor is providing advice they must adhere to the SEC’s Regulation Best Interest (Reg BI) rule and standard of care. Reg BI replaced the former “suitability” rule and created a ‘best interest’ standard for brokerage firms and registered representatives. This standard applies when a registered representative is providing investment advice through making recommendations customers and covers securities transaction, investment strategies, and recommendations concerning advice on opening of an account or accounts. Reg BI applies when brokers recommend a retail investor engage in securities transaction or an investment strategy involving one or more securities. Reg BI also applies to financial advice concerning the transfer of funds and opening of accounts.

There are Recent Customer Complaints with Broker Jennifer Greenleaf in Firm Bankers Life Securities, INC.

June 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jennifer Greenleaf (Greenleaf), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Greenleaf 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. It was determined that the financial representative initialed, on behalf of the client, an authorized change to the client documentation, as an accommodation. 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.

Broker Michael Nixon in Bankers Life Securities, INC. Firm Has Customer Complaint

June 28, 2025 | by Staff Attorney

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.

Broker Matthew Cyr in Bankers Life Securities, INC. Firm Has Customer Complaint

June 22, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Matthew Cyr (Cyr), previously associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Cyr 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 $12,615.00 on December 12, 2023.

Bankers Life and Casualty Company (BLC), an affiliated insurance company, received a written complaint from the State of Wisconsin Department of Market Regulation and Enforcement, and provided a copy to Bankers Life Securities, Inc. (BLS) on December 12, 2023. In the complaint, regarding a purchase of a Premium Bonus Index Annuity (PBIA) in February of 2022, and a purchase of mutual funds in a BLS brokerage in April of 2022, the client alleged the guidance she received from the registered representative was not in her best interest, inappropriate for her age and needs, and driven by the representatives desire for commission. Client further alleged the representative never used the term ‘annuity’ and always referred to purchasing a policy. The client has requested to surrender the annuity without penalty, and be reimbursed for damages. BLS reviewed the recommendations to liquidate securities to fund the annuity, as well as to purchase mutual funds, and determined this was based on the client’s needs and in the client’s best interest. However, based on the allegations raised and to resolve any possible misunderstanding that might have occurred, BLC will allow the client to surrender the PBIA without incurring the applicable early surrender penalty. While the BLC annuity is 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 because the allegations related to mutual funds were purchased in the client’s BLS account.

There are Recent Customer Complaints with Broker Rita Pollard in Firm Bankers Life Securities, INC.

May 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Rita Pollard (Pollard), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Pollard 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 $6,177.42 on June 03, 2024.

Bankers Life Securities, Inc. (BLS) received a written email complaint from a client on June 3, 2024. The firm’s review show that the client made three investments; a liquidation of retirement funds to purchase a Guaranteed Lifetime Income Annuity (GLIA), issued by the firm’s insurance affiliate BLC, a transfer of funds from a bank certificate of deposit (CD) to purchase a Flexible Premium Bonus Index Annuity (FPBIA) issued by BLC, and a rollover of retirement funds to accounts with BLS and Bankers Life Advisory Services, Inc. (BLAS), the firm’s Registered Investment Advisor (RIA) affiliate. In the complaint, the client requested a full return of deposited funds. The client alleged the annuities issued by BLC lacked the same liquidity as their CD, they were not informed of the surrender penalty or withdrawal limits and the purchase was not in their best interest. Additionally, the client alleged that the recommendation to roll the client’s pension funds into a managed BLAS Roth IRA account resulted in higher Medicare premiums. Both BLC and BLS’ review determined the transactions were suitable and all material terms were disclosed to the client. As an accommodation, BLC is permitting the client to surrender one annuity penalty free. While the BLC annuity is not a security, and was issued by BLC, the firm is reporting this complaint because the source of funding for one of the annuities came from the liquidation of securities recommended by a financial representative of the firm, and the client made allegations related to a securities account held with BLAS.