Timothy Darnell Fired by Bankers Life Securities

Timothy Darnell (CRD #: 6666469) has been terminated by Bankers Life Securities and Bankers Life Advisory Services. This is according to his BrokerCheck record, accessed on October 4, 2025. Keep reading if you have questions regarding his alleged conduct. 

Employment Separation After Allegations

On September 12, 2025, Bankers Life Securities and Bankers Life Advisory Services fired Timothy Darnell following allegations that he failed to disclose outside business activities. He also allegedly participated in undisclosed and unapproved private securities transactions and used off-channel communications with clients. This allegedly violated firm policies. 

Customer Dispute

On September 11, 2025, an investor alleged that Timothy Darnell made unsuitable recommendations and engaged in negligence, misrepresentation, and selling away related to an alleged Ponzi scheme with First Liberty Building & Loan. The investor is seeking $1,000,000. 

Outside Business and Selling Away

FINRA Rule 3270 requires brokers to inform their firm of any outside business activities or any investments sold away from the firm. The brokerage firm may prohibit the activity if the firm believes the proposed activity may compromise the broker’s duties. Firms may also require brokers to seek approval of any outside business.

The following outside businesses are listed on his detailed BrokerCheck record: CPA, insurance agent, Persevero Properties, and The Every Thought Captive Foundation. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Securities may be unsuitable for an investor because they are high-risk or because their lack of liquidity makes them difficult to sell in the short term.

Background Information 

Timothy Darnell 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 6 Investment Company Products / Variable Contracts Representative Examination 

Kurta Law Can Help 

If you have worked with Timothy Darnell and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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.