Investor Alleges Robert Crocker Misled Her About Unsuitable Investments

Robert Crocker (CRD #: 4841001), a broker registered with NYLIFE Securities, allegedly misled a client, according to his BrokerCheck record, accessed on May 24, 2023. Investors may have also engaged his services through Eagle Strategies. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On March 28, 2023, an investor alleged that Robert Crocker misled her into purchasing a variable annuity and Variable Universal Life insurance policy (VUL) in March 2021 that were unsuitable for her needs. This dispute is currently pending.

FINRA Rule 2020

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

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their age, tax status, and overall financial situation.

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

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.

What are VULs?

Variable Universal Life insurance policies (VULs) differ from other forms of life insurance because they invest a portion of investors’ premiums. Whether a VUL increases or decreases in value depends on the performance of its investments, so your returns are not guaranteed.

Background Information

Robert Crocker has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Robert Crocker is a registered broker in Connecticut, Massachusetts, New Hampshire, and Rhode Island. He is also a registered investment adviser in Massachusetts.

He has also worked for the following firms:

• Santander Securities (CRD#:41791)
• Wells Fargo Advisors (CRD#:19616)
• A. G. Edwards & Sons (CRD#:4)

Kurta Law Can Help

If you worked with Robert Crocker 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.