Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Newins (Newins), currently associated with Stifel, Nicolaus & Company, Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Newins recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint on June 16, 2023.
Clients allege they were unaware of the tax consequences associated with liquidating their variable annuity contracts and they were not informed by the RR that a 1035 exchange would have reduced their tax exposure.