DID TIMOTHY MILLIS CAUSE YOU INVESTMENT LOSSES?
Timothy Millis Formerly With NYLIFE Securities LLC Has One Customer Complaint For Alleged Broker Misconduct
Who is Timothy Millis formerly with NYLIFE Securities LLC?
Timothy Millis (CRD #706959) who was formerly registered with NYLIFE Securities LLC and located in Okemos, Michigan is a subject of one of our many securities industry sales practice abuse investigations.
Timothy Mills has had his own regulatory problems with the FINRA. In November 2019, he was suspended for 3 months by FINRA in all capacities and ordered to pay disgorgement of $7,500 for allegedly switching a senior investor out of a variable annuity into and a share class mutual fund and switch and other investors in and out of mutual fund which were intended to be long-term investments.
Timothy Millis Customer Complaint
Timothy Millis has been the subject of at least one customer complaint that we know about. The allegations made in the FINRA reported customer complaint for investment losses were upon reviewing the customer’s brokerage account activity, the firm noted that the customer incurred front-end sales charges when proceeds from a variable annuity withdrawal were subsequently transferred to the customer’s brokerage account. The firm also noted that the customer’s variable annuity withdrawal was subject to a surrender charge. The customer executed a settlement agreement that the firm provided to him after its review of the transactions. Thus, Timothy Millis’ customer complaint was settled in favor of the investors.
Timothy Millis Red Flags & Your Rights As An Investor
Of course, Timothy Millis 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 Timothy Millis at NYLIFE Securities LLC on alert to review carefully the activity and performance of their accounts and question whether Timothy Millis has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at NYLIFE Securities LLC also raises questions about the brokerage firm’s 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 Due To Timothy Millis
If you have questions about NYLIFE Securities LLC and/or Timothy Millis 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.