NYLife Securities LLC Broker Marlyn McClain Investment Loss Options

Nylife Securities LLC

Were you the victim of NYLife Securities LLC broker Marlyn McClain (CRD# 325415) and you suffered insurance losses due to investment fraud? He has been registered with NYLife Securities LLC in Council Bluffs, Iowa since 1982.

Marlyn McClain Customer Complaints

Marlyn McClain has been the subject of four customer complaints between 1995 and 2021, according to his CRD report. Recent complaints are regarding: 

July 2021. “Plaintiff alleges that beginning in the mid 1990’s he was misled into purchasing a series of whole life insurance policies and selling securities to pay the premiums and maintain the policies.” The case is currently pending. The complaint was regarding insurance and mutual fund losses.

April 2018. “Customer alleges that the sale of a Survivorship VUL in January 2013 was inappropriate given his age and net worth.” The case was settled for $70,000. 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, NYLife Securities LLC may be liable for investment or other losses suffered by Marlyn McClain’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.