Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Nicholas Paolicelli (Paolicelli), previously associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Paolicelli 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 $8,304.25 on November 09, 2022.
The customer alleges, due to misinformation provided by the RR, she only became aware after making a partial withdrawal from her variable annuity policy in August 2022, that it would result in a taxable event. The customer has requested that the transaction be reversed and the money returned to the policy to avoid taxes, penalties and surrender charges.