Mark Lenert is the Subject of a Variable Annuity Dispute

Mark Lenert (CRD #: 4501352), a broker registered with NYLife Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 24, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On March 1, 2024, an investor alleged that Mark Lenert recommended a variable annuity that she did not fully understand at the time of sale. The investor further alleged that she was unaware of the surrender charge associated with this policy. 

The dispute was denied, but investors should know that firms can deny disputes without any external review. Investors can still recover losses following a denial. 

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. Furthermore, the risk associated with this type of illiquid investment makes it unsuitable for many investors. 

Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Background Information 

Mark Lenert has passed the following exams: 

• Series 66 – Uniform Combined State 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 

He is a registered broker in 25 states and D.C. He is a registered investment adviser in New York. 

During his 22 years of experience, Mark Lenert has registered with two firms: NY Life Securities (CRD #: 5167) and Eagle Strategies (CRD #: 110826). 

Kurta Law Can Help 

If you have worked with Mark Lenert and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.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 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. Do not let securities fraud go unchecked. Start your recovery process today.