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Michael O’Brien Of NYLIFE Securities Has 4 Customer Complaints For Alleged Broker Misconduct

Who is Michael O’Brien of NYLIFE Securities?

Michael O’Brien (CRD #1660069) who is currently registered with NYLIFE Securities and located in Kearney, Nebraska is a subject of one of our many securities industry sales practice abuse investigations.

Michael O’Brien Customer Complaints

Michael O’Brien has been the subject of 4 customer complaints that we know about. Three of Michael O’Brien’s 4 customer complaints were settled in favor of investors. One of Michael O’Brien’s customers’ complaints was denied and, today, the customers not taken any further action.

Allegations Against Michael O’Brien

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

  • Customer alleged that she was unaware that the product she purchased from Michael O’Brien was a variable annuity, was subject to surrender charges, annual charges and risk to principal.
  • The customer alleged that he wanted to move his money from his fixed annuity into an aggressive variable and was told it would be done the latest on February 25 and found out that it took almost two months later the policy was issued, which resulted in losses allegedly caused by Michael O’Brien.
  • With regard to the purchases of variable annuity policies and variable life insurance policies, the customer alleges that Michael O’Brien misinformed the customer about these policies, gave inaccurate information and was not told about the surrender charges.

Michael O’Brien Red Flags & Your Rights As An Investor

Of course, Michael O’Brien 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 O’Brien at NYLIFE Securities on alert to review carefully the activity and performance of their accounts and question whether Michael O’Brien has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at NYLIFE Securities also raises questions about the brokerage firms’ 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 Due To Michael O’Brien

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

Author Photo

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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