Jeffrey Lowe Allegedly Recommended Unsuitable Variable Annuity

Jeffrey Lowe (CRD #: 2488791), a broker registered with NYLIFE Securities, allegedly made an unsuitable investment recommendation, according to his BrokerCheck record, accessed on November 19, 2022. If you have questions about his conduct as a broker, read on.

Investor Dispute

On August 17, 2022, an investor alleged that Jeffrey Lowe recommended a variable annuity in January 2022 that was inconsistent with her financial goal. The client received a settlement of $91,605.06.

Variable annuities are often unsuitable due to their complex nature, fees, and potential for losses. 

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately suit an investor’s financial goals. Brokers must consider the information in an investor’s profile, such as the investor’s risk tolerance, age, and tax status.

• High-risk investments may be unsuitable due to their likelihood of losing money.
• Illiquid investments can be difficult to sell in the short-term and tend to incur high fees when investors attempt to sell them too soon.
• Excessive trading violates the need for quantitative suitability. This means that the overall number of trades executed must also be suitable for the client’s financial goals.
• Investment strategies are also required to be suitable for the investor. For example, the level of risk involved in overconcentration of securities in a certain sector or stock may be unsuitable for some investors.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Jeffrey Lowe has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination Oct 1, 2018
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Jeffrey Lowe is a registered broker in Massachusetts.

Kurta Law Can Help

If you worked with Jeffrey Lowe 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.