Articles Tagged with Nylife Securities LLC

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

FINRA BrokerCheck shows a settled customer complaint on June 02, 2020.

The customer alleged that a the market risk of a variable universal life insurance policy issued on or about September 18, 1998 had been misrepresented.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Louis Bayhi (Bayhi), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Bayhi 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 $11,002.00 on June 29, 2020.

The customer alleges the RR never advised him in September 2019 that he would incur a tax obligation when he recommended that he exchange one fund for another in his Mainstay mutual fund account. As a result of the poor recommendation, the customer alleged he incurred an $11,000 additional tax obligation and he is requesting to be made whole for the extra taxes incurred.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kerry Beslin (Beslin), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Beslin 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 $11,002.00 on June 29, 2020.

The customer alleges the RR never advised him in September 2019 that he would incur a tax obligation when she recommended that he exchange one fund for another in his Mainstay mutual fund account. As a result of the poor recommendation, the customer alleged he incurred an $11,000 additional tax obligation and he is requesting to be made whole for the extra taxes incurred.

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

FINRA BrokerCheck shows a settled customer complaint on July 16, 2020.

Customer alleges the Variable Annuity policy she purchased in June 2013 was initially understood to allow for withdrawals however she recently became aware that this policy does not allow for withdrawals, therefore she is requesting an exception in order to access her funds immediately.

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

FINRA BrokerCheck shows a settled customer complaint on July 20, 2020.

Customer alleged that sale of stocks and purchase of two variable annuities in November 2019 was not explained to her. The Firm settled the complaint by reimbursing the surrender charges in the amount of $32,726.72

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

FINRA BrokerCheck shows a settled customer complaint on August 05, 2020.

Upon reviewing the customer’s Variable Annuity policies, the Firm noted that the surrender charges on the replacement policy exceeded suitability guidelines. The customer accepted the Firm’s offer to refund the surrender charge incurred in the replacement of the variable annuity purchased in March 2019.

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

FINRA BrokerCheck shows a settled customer complaint on August 05, 2020.

Customer alleges that he was misled regarding the purchase, fees and surrender charges associated with a VA purchased in April 2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Humbarger (Humbarger), currently associated with Nylife Securities LLC, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Humbarger recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on August 13, 2020.

Plaintiffs allege that in or about March 2016 they were told that no changes were necessary to their VULs and were not informed that their VUL policies were in jeopardy of lapsing. Plaintiffs seek compensatory and punitive damages as well as costs and fees.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Humbarger (Humbarger), previously associated with Nylife Securities LLC, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Humbarger recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on August 13, 2020.

Plaintiffs allege that in or around February 1999 and March 1999 they were misled into exchanging life insurance policies into Variable Universal Life policies which carried significant surrender charges and were not suitable. Plaintiffs seek compensatory and punitive damages as well as costs and fees.

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

FINRA BrokerCheck shows a settled customer complaint on December 07, 2020.

Customers alleged that they were not informed of the fees associated with the purchase of variable annuities in July and November 2014.

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