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Michael Andrew Norman formerly with NYLife Securities LLC Has 3 Customer Complaints For Alleged Broker Misconduct

Who is Michael A. Norman formerly with NYLife Securities LLC?

Michael Norman (CRD #2092589) who was formerly registered with NYLife Securities LLC and located in Reno, Nevada is a subject of one of our many securities industry sales practice abuse investigations.  

Michael Norman is no longer employed with NYLife Securities LLC since he was permanently barred by FINRA from further association with any member firm were allegedly not cooperating with an investigation into allegations that he loaned money to a customer, so that the customer could purchase securities.

NYLife Securities LLC Broker Misconduct

In his career Michael Norman has been the subject of 3 customer complaints that we know about, one of those complaints were filed in the last 2 years to recover investment losses. Two of Michael Norman’s 3 customer complaints were settled in favor of investors. The other customer complaint filed against Michael Norman’s former employer NYLife Securities LLC for investment losses caused by his alleged misconduct was denied by the company and the customer is not yet taken any further action.

Allegations Against Michael Norman

A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:

  • Customer alleged that Michael Norman made an unsuitable recommendation to invest in a variable annuity due to the mortality and expense and investment protection of fees incurred over the life of the product.
  • Customer alleged that Michael Norman misrepresented the rate of return, failed to disclose associated fees, and further provided unsuitable investment advice to make a mutual fund transaction.
  • Customer alleged that Michael Norman failed to adequately disclose the annual fees and surrender charges associated with a variable annuity transaction. Further, that the investment was an unsuitable one in light of his investment profile, liquidity needs.

Michael Norman Red Flags & Your Rights As An Investor

Of course, Michael Norman did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Michael Norman at NYLife Securities LLC on alert to review carefully the activity and performance of their accounts and question whether Michael Norman has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at NYLife Securities LLC about Michael Norman also raises questions about its supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At NYLife Securities LLC

If you have questions about NYLife Securities LLC and/or Michael Norman and the management or performance of your accounts, and, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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