Erez Law is currently investigating former Northwestern Mutual Investment Services, LLC broker Ian Pierce (CRD# 6205487) regarding insurance losses. He was registered with Northwestern Mutual Investment Services, LLC in West Hartford, Connecticut, from 2016 to 2020, when he was terminated regarding, “Representative was permitted to resign after a customer alleged that loans were taken from her permanent life insurance policy without consent, and that the proceeds were transferred to the representative’s bank account. The customer also produced fabricated transaction documentation given to her by the representative.”
In June 2025, he was barred and ordered to pay a $100,000 civil and administrative penalty and fine by the state of Connecticut after he “fraudulently obtained and/or misappropriated at least $164,000 from at least four Connecticut customers who received no money in return.”
In February 2022, FINRA barred him indefinitely after he “consented to the sanction and to the entry of findings that he converted funds from one of his insurance customers. The findings stated that Pierce arranged for two loans totaling $2,885 to be taken against the cash value of his customer’s insurance policy without the customer’s knowledge and consent.” The complaint further alleged that he “initiated and processed the loans through an internal system at his member firm’s parent company. After the parent company deposited the loan proceeds into the customer’s checking account, the customer asked Pierce why she had received the funds. Pierce instructed the customer to transfer the loan proceeds to Pierce’s personal bank account and falsely stated he would re-apply the funds to the customer’s insurance policy. However, after the customer transferred the funds, Pierce did not re-apply the funds to the customer’s insurance policy, but instead, spent the money on personal purchases. The firm’s parent company reimbursed the customer for her losses.”
Ian Pierce Customer Complaints
He has been the subject of four customer complaints between 2020 and 2026, two of which were denied, according to his CRD report:
January 2026. “FINRA arbitration filed by five clients alleging representative solicited funds from clients, misappropriated those funds, and made numerous misrepresentations to clients regarding their policies, including falsifying documents, and impersonating employees of the broker-dealer, NMIS, FINRA, and legal counsel in written communication to customers.” The case is currently pending. The complaint was regarding insurance losses.
February 2020. “Allegation that loans were taken from the complainant’s permanent life insurance policy without consent, and that the proceeds were transferred to the representative’s bank account. The complainant also produced fabricated transaction documentation given to her by the representative.” The customer sought $2,855.67 in damages, and the case was settled for $15,000.23. The complaint was regarding insurance losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Northwestern Mutual Investment Services, LLC may be liable for investment or other losses suffered by Ian Pierce’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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