Investor Alleges Scott Schechter Misled Her Regarding Variable Annuity

Scott Schechter (CRD #: 4496417), a broker registered with NYLIFE Securities, allegedly failed to fully inform an investor, according to his BrokerCheck record, accessed on December 26, 2022. Investors may have also worked with him through Eagle Strategies. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On November 2, 2022, an investor filed a dispute alleging Scott Schechter “misled and misinformed” her with regard to investments in two fixed annuities and a variable annuity, all purchased in June 2012. The client seeks $145,009.14  in damages in this pending dispute.

Variable annuities are complex insurance products. They can decline in value depending on the performance of the underlying security. Surrender charges, tax penalties, and other fees can make variable annuities unsuitable.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative or deceptive tactics, like the misrepresentation or omission of material facts, as they relate to the purchase and sale of securities.

Background Information

Scott Schechter has passed the following exams:

• Series 65 – Uniform Investment Adviser 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

Scott Schechter is a registered broker in 23 states and the District of Columbia. He is also a registered investment adviser in California, Illinois, and Texas.

Kurta Law Can Help

If you worked with Scott Schechter 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.