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NYLIFE Securities LLC Broker Rodney Ferguson Investment Loss Options

Posted on Monday, October 12th, 2020 at 9:41 pm    

NYLIFE Securities LLC

Did you lose money investing with NYLIFE Securities LLC broker Rodney Ferguson (CRD# 2482868)? Ferguson has been registered with NYLIFE Securities LLC in Chesterfield, Missouri since 2000. 

Ferguson has been the subject of six customer complaints between 1997 and 2020, one of which was denied, according to his CRD report. Recent complaints are regarding: 

June 2020. “Customer alleges RR Ferguson made an unsuitable recommendation in or around April 2012 to liquidate an annuity from another financial institution and to purchase mutual funds through NYLIFE Securities, LLC.” The customer is seeking $173,000 in damages and the case is currently pending. The complaint was regarding variable and fixed annuities. 

January 2017. “Among other things, Customer alleges that she was advised to purchase a variable annuity from the proceeds of her 401K in January 2015. She alleges that she didn’t need the costly annuity since the money is in an IRA and already growing tax deferred. Customer is requesting the rescission of the annuity and 6% interest on her original investment since inception.” The case was settled for $38,670.11. The complaint was regarding fix annuities, variable annuities, and managed accounts. 

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 Ferguson’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.