Articles Tagged with Nylife Securities LLC

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

FINRA BrokerCheck shows a settled customer complaint on July 30, 2024.

Customer alleged that he did not apply for or authorize two Term Life insurance policies issued in December 2023.

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

FINRA BrokerCheck shows a pending customer complaint on June 02, 2025.

The policy owner alleges he did not sign or authorize the policy delivery receipt or amendment for a fixed life insurance policy on February 1, 2007.

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

FINRA BrokerCheck shows a pending customer complaint on April 21, 2025.

Customers alleged the Variable Annuity policies they each purchased between July – August 2024 were not compatible with their requests and the rationale was not clearly understood.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Elinar Deghbashyan (Deghbashyan), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Deghbashyan 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 $7,000.00 on April 14, 2025.

The Customer alleges the recommendation to transfer some of his funds from an existing variable annuity in December 2024 was based on improper fact finding, and as a result he has lost more than $7,000.00. The Client requests a refund without surrender charges.

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

FINRA BrokerCheck shows a pending customer complaint on April 21, 2025.

Customers alleged the Variable Annuity policies they each purchased between July – August 2024 were not compatible with their requests and the rationale was not clearly understood.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Elinar Deghbashyan (Deghbashyan), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Deghbashyan 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 $7,000.00 on April 14, 2025.

The Customer alleges the recommendation to transfer some of his funds from an existing variable annuity in December 2024 was based on improper fact finding, and as a result he has lost more than $7,000.00. The Client requests a refund without surrender charges.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Xiao Mei Chen (Chen), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Chen 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 $5,000,000.00 on May 12, 2025.

Claimant alleges, among other things, that she was misled when it was recommended, she use the proceeds of her 401K containing mutual funds and bonds to purchase a Fixed Annuity leading to lost market opportunity. Claimant seeks general and compensatory damages over $5,000,000, attorneys’ fees, punitive damages, costs and interest.

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

FINRA BrokerCheck shows a settled customer complaint on July 24, 2023.

Customers allege that variable annuity distributions between 2022 – 2023 to fund the premiums on separate variable annuities created a higher tax liability while also placing the assets under surrender charges. The customers further allege that this did not consider the liquidity needs of the client.

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

FINRA BrokerCheck shows a pending customer complaint on July 31, 2023.

Plaintiffs allege, among other things, that they were misled into purchasing variable annuities and insurance after liquidating mutual funds at a prior firm. They also allege that the recommended variable annuity purchased in April 2021 was inappropriate for their needs.

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

FINRA BrokerCheck shows a settled customer complaint on August 03, 2023.

The Customer alleges she was misinformed when insurance policies, including a VUL, were recommended to her in May 2022.

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