Investor Alleges Laura Shnitzer Failed to Provide Advice on Mitigating Loss

Laura Shnitzer (CRD #: 7008433), a broker registered with NYLIFE Securities, allegedly failed to properly inform and advise a client, according to her BrokerCheck record, accessed on May 25, 2023. Read on if you have questions about her alleged conduct as a broker.

Investor Dispute

On March 24, 2023, an investor filed a dispute alleging that Laura Shnitzer failed to provide advice on how to mitigate market losses in the client’s variable annuity and brokerage accounts, which allegedly performed poorly in 2022.

The client further alleged that Laura Shnitzer failed to inform her that she would not be able to fully access the funds in her fixed income annuities. This dispute was denied by the firm.

However, investors should know that firms don’t need to allow an outside review before denying disputes. Investors may be able to recover their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulation, deception, and other fraudulent methods to influence the purchase and sale of securities. Misrepresenting or omitting facts about an investment’s limitations, requirements, or other features violates this rule.

FINRA Rule 2010

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

What are Variable Annuities?

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying security. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Background Information

Laura Shnitzer has passed the following exams:

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

Laura Shnitzer is a registered broker in California and New Jersey.

Kurta Law Can Help

If you worked with Laura Shnitzer 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.