Investor Names Eric Brisebois in Dispute Involving VULs

Eric Brisebois (CRD #: 4160820), a broker registered with NYLIFE Securities, was recently involved in an investor dispute, according to his BrokerCheck record, accessed on March 28, 2023. Investors may have also worked with him through Eagle Strategies. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On January 13, 2023, an investor named Eric Brisebois in a dispute alleging that the Variable Universal Life insurance policies (VULs) purchased in December 2001 did not meet the client’s financial needs. This dispute was denied by the firm.

Investors should be aware, however, that firms don’t need to permit an outside review before denying a dispute. Investors can still pursue FINRA arbitration and may be able to recover their lost funds following a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must examine the information contained in an investor’s profile, such as their tax status, age, and other investments.

Investors who rely on brokers for investment recommendations can potentially recover their losses by seeking out FINRA arbitration.

What is Variable Universal Life Insurance?

Variable Universal Life insurance policies (VULs) differ from other forms of life insurance by investing a portion of investors’ premiums. Whether a VUL’s value increases or decreases over time depends on the performance of its investments, so your returns are not guaranteed. Additionally, VULs are often at risk for lapsing, which negates their tax benefits.

Background Information

Eric Brisebois has passed the following exams:

• Series 65 – Uniform Investment Adviser 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

Eric Brisebois is a registered broker in 16 states and a registered investment adviser in Massachusetts.

Kurta Law Can Help

If you worked with Eric Brisebois and you 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 and 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.