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NYLife Securities LLC (CRD#: 5167, New York, New York) is a brokerage firm which Financial Industry Regulatory Authority (“FINRA”) regulates. Notably, the firm reports on FINRA BrokerCheck that on ten occasions, FINRA or another regulator filed an action against the firm for misconduct. Apparently, those actions concern the firm’s failure to conform to regulatory standards or securities rules. In addition, customers have filed arbitrations against NYLife Securities LLC for sales practice violations. Indeed, on at least seven occasions, arbitrators required NYLife Securities LLC to pay customers after finding the firm responsible for, inter alia, misrepresentation, unsuitability, and breach of fiduciary duties. Not only that, but the firm’s brokers reported many more customer disputes. For example, take a look at disclosures concerning Jeffrey Sleeper and Janine Ruland.
NYLife Securities Customer Alleges Jeffrey Sleeper Misrepresented Investments
Jeffrey Thomas Sleeper (CRD#: 2548149, Bellevue, Washington) is presently a NYLife Securities broker. He has worked at the firm’s Bellevue, Washington offices since December 20, 1994. Jeffrey Sleeper shows on his FINRA BrokerCheck Report that at least one customer complained about his sales practices. Specifically, on August 28, 2017, a customer filed a complaint alleging misrepresentation. Allegedly, the customer claims that Jeffrey Sleeper made misrepresentations with respect to the terms and conditions of variable annuities. Evidently, the customer bought those annuities in 2017 after Jeffrey Sleeper misrepresented the products. As a result, the customer demanded compensatory damages. Eventually, the firm agreed to pay the customer $18,597.94. Accordingly, the parties settled the matter on December 6, 2017.
Customer Of NYLife Securities Alleges Janine Ruland Made Unsuitable ETF Purchases
Janine Marie Ruland (CRD#: 4969604, Mill Creek, Washington) has been a NYLife Securities LLC general securities representative since July 18, 2005. During this time, Janine Ruland allegedly caused a customer harm by way of her poor advice. Evidently, the customer brought a complaint to the firm’s attention on November 5, 2018. Mainly, the customer alleged that Janine Ruland made bad decisions concerning the customer’s 401(k) rollover. Apparently, in August 1, 2018, she unreasonably planted the customer’s assets in exchange traded funds. Janine Ruland allegedly made the unsuitable ETF purchases in the customer’s managed account. Because of this, the firm believes the customer alleged more than $5,000.00 in damages. However, NYLife Securities LLC denied the customer’s allegations on December 28, 2018. Therefore, it is uncertain whether the customer will pursue this investment matter further.
Have you experienced losses by purchasing products from NYLife Securities brokers Jeffrey Sleeper or Janine Ruland? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.