Investors Allege Raymond Brown Misrepresented Life Insurance Policies

Raymond Brown (CRD #: 6170291), a broker formerly registered with Northwestern Mutual Investment Services, allegedly misrepresented insurance policies, according to his BrokerCheck record, accessed on August 10, 2025. Keep reading if you have questions about his alleged conduct as a broker.

Investor Disputes

On May 15, 2025, multiple investors filed a dispute alleging that Raymond Brown misrepresented life insurance policies, including a Variable Universal Life (VUL) policy, as liquid investments with tax-free growth and free access to money paid in.

The investors alleged that Raymond Brown failed to disclose the nature, costs, liquidity limitations, and the implications of altering or ending premium payments. This dispute was settled for $135,541.

On September 19, 2024, multiple investors filed a dispute alleging that Raymond Brown made misrepresentations with regard to two variable life insurance policies, including about the liquidity of premiums paid.

The clients further alleged that they did not understand that these policies were variable life insurance and that they could not afford the premiums. This dispute was settled for $109,752.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Resignation from Northwestern Mutual Investment Services

On December 4, 2024, Raymond Brown was permitted to resign from Northwestern Mutual Investment Services while allegedly under an internal review.

This review allegedly concerned life insurance sales practices including giving clients incorrect or misleading information, unsuitable life insurance policy sales or overselling policies for his own benefit, and entering inaccurate income data for clients.

FINRA Rule 2010

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

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which describes their risk tolerance, tax status, age, and other characteristics.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Background Information

Raymond Brown has passed the following exams:

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

He previously worked for Northwestern Mutual Investment Services (CRD#:2881).

Kurta Law Can Help

If you worked with Raymond Brown 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 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.