Cody Moran Involved in Two Disputes Regarding Premium Bonus Indexed Annuities

Cody Moran (CRD #: 6939984), a broker registered with Bankers Life Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on November 3, 2023. The dispute involves a Premium Bonus Indexed Annuity (PBIA) – details regarding the dispute are provided below. 

On August 16, 2023, an investor alleged Cody Moran misrepresented the terms of a Premium Bonus Indexed Annuity (PBIA). The investor alleged she was not told she was purchasing an annuity and was not aware of the surrender schedule for the annuity. She further alleged she was not informed she would incur capital gains tax from the sale of the assets used to purchase the annuity. 

The investors sought $65,543.93 but the dispute was denied by the firm. Investors should know, however, that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

This is not the only dispute on Cody Moran’s record. On September 4, 2019, another investor alleged that Cody Moran did not disclose certain terms and penalties associated with a PBIA. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts relating to a surrender schedule or capital gains tax violates this rule. 

Background Information 

Cody Moran has passed the following exams:

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

He is a registered broker in Illinois, Iowa, Minnesota, and South Carolina. 

Cody Moran has been in the securities industry for five years and during that time has only registered with Bankers Life Securities (CRD #: 173962). 

Kurta Law Can Help

If you worked with Cody Moran and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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.