Benjamin Yin is the Subject of a Six-Figure Dispute

Benjamin Yin (CRD #: 5835533), a broker registered with NYLife Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 17, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations

On December 8, 2023, an investor alleged that Benjamin Yin recommended an unsuitable variable annuity. The variable annuity was allegedly unsuitable because of the fee structure, illiquidity, and restrictions. The dispute settled for $115,810.79. 

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. Furthermore, the risk associated with this type of illiquid investment makes it unsuitable for many investors. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Background Information 

Benjamin Yin has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 6 Investment Company Products/ Variable Contracts Representative Examination 

He is a registered broker in 29 states and is a registered investment adviser in Georgia and Texas. 

During his 13 years of experience, Benjamin Yin has registered with two firms: NYLife Securities (CRD #: 5167) and Eagle Strategies (CRD #: 110826).

Kurta Law Can Help 

If you have worked with Benjamin Yin and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.