Investors apparently complained about securities broker Michael Thomas Polito (also known as Thomas Michael Polito) [CRD: 5433956, Dedham, Massachusetts], based on public information located on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Polito has been registered with NYLIFE Securities LLC since December 18, 2007, and Eagle Strategies LLC since April 1, 2019. Read on to discover more about the disclosures involving this securities broker.
Particularly, a client filed a complaint about Michael Polito. Primarily, the client alleged that Polito made unsuitable recommendations involving annuities transactions in March 2018, November 2021, and April 2025. Because of this, the client allegedly incurred damages associated with fixed annuities. Therefore, on January 5, 2026, NYLIFE Securities LLC settled this matter by paying the client $15,498.00 in damages.
Notably, a client of NYLIFE Securities LLC disputed Polito’s sales practices, according to a complaint. Allegedly, Polito gave unsuitable advice related to the purchase of variable annuities, specifically involving two MetLife contracts around March 2012. It appears that Polito allegedly caused the client to suffer damages connected to those variable annuities. Consequently, NYLIFE Securities LLC opted to settle the matter on December 22, 2014, by compensating the client in the amount of $16,103.98.
Are you concerned about investments you made through Michael Polito? Get in touch with Soreide Law Group at (888) 760-6552 or online and consult with a securities attorney concerning a possible recovery of your investment losses. Soreide Law Group has recovered losses for hundreds of investors throughout the United States. Also, the firm works on a contingency fee arrangement and advances all costs. Polito and brokerage firms Polito worked for deny any accusations of sales practice violations.
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