Michelle Neuhalfen Subject of a Six-Figure Dispute

Michelle Neuhalfen (CRD #: 7206531), a broker registered with Bankers Life Securities, is the subject of an investor dispute. This is according to her BrokerCheck record, accessed on August 23, 2024. Keep reading if you have questions regarding her alleged conduct. 

Investor Allegations 

On June 18, 2024, a client’s Power of Attorney alleged that Michelle Neuhalfen recommended that the investor liquidate securities to fund a Bankers Life and Casualty Guaranteed Lifetime Income Annuity. 

The investor’s POA further alleged that Michelle Neuhalfen persuaded the investor to transfer funds to a managed account with an affiliate, Bankers Life Advisory Services, but failed to provide the investor with the risks and benefits of these investments.

The investor sought $782,583.10 but the dispute was denied. Investors should know, however, that firms can deny disputes without any external review. Investors can still recover losses following a denial. 

Conflict of Interest Disclosure 

Bankers Life Securities discloses in its Customer Relationship Summary (Form CRS) that its representatives receive a separate commission when they sell proprietary insurance products offered through its affiliated insurance companies, which creates a conflict of interest. 

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 

Michelle Neuhalfen has passed the following exams: 

• Series 66 – Uniform Combined State Law Examination 
• Series 77TO General Securities Representative Examination 
• SIE – Securities Industry Essentials Examination 

She is a registered broker and investment adviser in North Carolina and is a registered broker in four other states. 

Michelle Neuhalfer is registered with Bankers Life Securities (CRD #: 173962) and Bankers Life Advisory Services (CRD #: 281285). 

Kurta Law Can Help 

If you worked with Michelle Neuhalfen and you 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.