| Read Time: 2 minutes |

DID STEPHEN THEODORE MELLINGER CAUSE YOU INVESTMENT LOSSES?

Stephen Mellinger Formerly With NYLIFE Securities Has 6 Customer Complaints For Alleged Broker Misconduct

Who is Stephen Mellinger formerly with NYLIFE Securities?

Stephen Mellinger (CRD #2819752) who was formerly registered with NYLIFE Securities and located in Niles, Michigan is a subject of one of our many securities industry sales practice abuse investigations.

Stephen Mellinger Customer Complaints

Stephen Mellinger has been the subject of 6 customer complaints that we know about. Four of Stephen Mellinger’s 6 customer complaints were settled in favor of investors. There are currently two pending customer complaints filed against NYLIFE Securities for investment losses caused by Stephen Mellinger’s alleged misconduct.

Allegations Against Stephen Mellinger

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

  • Attorney for customers alleged that they were sold variable universal life insurance policies by Stephen Mellinger that they could not afford to fund a retirement plan.
  • Customer alleged that they were taken advantage by Stephen Mellinger which caused financial hardship.
  • Customer alleged, among other things, that he did not fully understand the manner in which his investments were structured by Stephen Mellinger. He also stated that he later discovered that some of his insurance policies were not being paid as had been discussed.
  • Plaintiff alleged that a Financial Planning Consulting Agreement was breached by Stephen Mellinger due to failure to provide any services of value, use or benefit with respect to his personal or business finances.
  • Plaintiff alleged the 412I Defined Benefit Plan sold to them was “unlawful and/or not appropriate for the use described” by Stephen Mellinger during the sale of the Plan.

Stephen Mellinger Red Flags & Your Rights As An Investor

Of course, Stephen Mellinger 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 Stephen Mellinger at NYLIFE Securities on alert to review carefully the activity and performance of their accounts and question whether Stephen Mellinger 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 Stephen Mellinger

If you have questions about NYLIFE Securities and/or Stephen Mellinger 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

Rate this Post

1 Star2 Stars3 Stars4 Stars5 Stars
Loading...