Did Jolene Starr Recommend an Unsuitable Variable Universal Life Insurance Policy?
Jolene Starr (CRD #: 1212445), a broker and investment advisor registered with NYLIFE Securities, is facing an unsuitability dispute, according to her BrokerCheck record, accessed on March 22, 2022.
According to the allegations filed on January 14, 2022, Jolene Starr recommended an unsuitable variable universal life insurance policy. The investor sought $96,000 but the firm denied the dispute. VULs can be tricky contracts for investors to manage and often lead to investor disputes.
Firms can deny disputes without any external review. Investors should know that they can still pursue FINRA arbitration and recover their losses following a denial.
FINRA Rule 2111
Brokers must consider the factors listed below when recommending investments to investors:
- The investor’s current financial state and tax status
- The investor’s financial goals
- The investor’s risk tolerance
According to FINRA Rule 2111, brokers may be liable for investor unsuitability claims if they fail to take the factors listed above into account. A broker must have exercised due diligence and have an adequate reason for believing that an investment will be suitable or beneficial for the investor.
To prove an unsuitability claim, you must establish that:
- A transaction took place between yourself and the broker
- You sustained damages (lost money)
- The broker was aware of your financial situation
Make sure you are not being taken advantage of by contacting the securities attorneys at Kurta Law as soon as possible if you believe you lost funds due to unsuitable investment recommendations.
Jolene Starr has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 22 – Direct Participation Programs Representative Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
She is a registered broker in ten states.
Besides NYLIFE Securities, Jolene Starr has not worked with any other firm.
Kurta Law Can Help
If you have worked with Jolene Starr and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or email@example.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 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.