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Michael Nichols Allegedly Misallocated Funds

Michael Nichols (CRD #: 4699651), a broker registered with NYLife Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 20, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On March 24, 2024, an investor alleged that Michael Nichols misallocated funds intended as a retirement investment into a fixed annuity. The investor further alleged she missed a growth opportunity for several years. 

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Misallocation of funds may violate this rule. 

Background Information 

Michael Nichols has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • Series 66 Uniform Combined State Law Examination
  • SIE Securities Industry Essentials Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 6 Investment Company Products / Variable Contracts Representative Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in four states and is a registered investment adviser in Massachusetts. 

During his nine years of experience, he has registered with five firms: 

  • NYLife Securities (CRD #: 5167) 
  • Eagle Strategies (CRD #: 110826) 
  • AXA Advisors (CRD #: 6627) 
  • American Express Financial Advisors (CRD #: 6363) 
  • IDS Life Insurance Company (CRD #: 6321) 

Kurta Law Can Help 

If you have worked with Michael Nichols 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.

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