Investors possibly experienced losses because of securities broker Michael Thomas Damon [CRD: 4501030, Medway, Massachusetts], according to disclosures on the Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Michael Damon joined NYLIFE Securities LLC in 2002 and Damon Financial LLC in 2016. Continue reading to learn more about Michael Damon’s disclosures and what steps affected investors can take.
Particularly, on October 24, 2023, a NYLIFE Securities LLC client filed a complaint about Michael Damon. The client alleged that Damon recommended variable annuities that were not suitable given her financial situation. Because of this, the client allegedly sustained damages. As a result, the client requested damages in compensation from NYLIFE Securities LLC or Damon. The firm denied this complaint.
On December 22, 2017, NYLIFE Securities LLC received a written complaint from a client concerning a variable annuity purchased on October 30, 2017. The client alleged that Damon failed to adequately disclose the surrender charges associated with withdrawing money from an annuity. For this reason, the firm settled the matter, without admitting liability, for $7,027.18 in damages.
On September 27, 2013, a client filed a written complaint with NYLIFE Securities LLC alleging that Damon did not inform him of rider fees when he purchased his variable annuity. The client expressed dissatisfaction with the management of his retirement portfolio and complained about omissions relating to rider fees. The firm settled this complaint by compensating the customer in the amount of $20,912.86.
Have you experienced losses because of any sales practice violation by financial advisor / securities broker Michael Damon? If so, get in touch with Soreide Law Group online or at (888) 760-6552 so you can talk to a securities lawyer about your legal options. Soreide Law Group has recovered losses for investors throughout the United States, represents investors through contingency fees, and advances all costs. Damon and brokerage firms Damon worked for deny any allegations of sales practice violations.
Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: CONCORDE INVESTMENTS SERVICES, LLC, and BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC (Respondents). The Claimants are in their late 70s, retired, and according to the lawsuit, were not looking to take any unnecessary risks with their retirement savings. The Claimants […]
THEODORE WILLIAM BYRER (THEODORE W BYRER, TED BYRER) was registered as a broker with MORGAN STANLEY of Indianapolis, Indiana, from 11/11/2013 - 04/20/2023. He was most recently registered with INTERNATIONAL ASSETS ADVISORY, INC of Westfield, Indiana, from 05/09/2023 - 09/17/2024. According to his BrokerCheck CRD report, dated 7/23/2026, THEODORE W BYRER was suspended for 14 […]
MARK LAWRENCE SULLIVAN (MARK SULLIVAN, MARK L SULLIVAN), formerly with UBS Wealth Management USA in New York City, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations that he traded in customers’ accounts without the proper approval. Sullivan was previously registered both as a broker and as an […]
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