DID JOHN A SAVINI CAUSE YOU INVESTMENT LOSSES?
John Savini Of NYLife Securities LLC Has A Customer Complaint For Alleged Broker Misconduct
About John Savini of NYLife Securities LLC?
John Savini (CRD #6337820) has been with NYLIFE Securities LLC in New Windsor, New York, since December 2014. His registration extends to just two U.S. states, which may limit his exposure and experience in the broader national market. Savini’s qualifications include passing two general industry/product exams and one multi-state securities law exam, but he has not completed any principal/supervisory exams, suggesting a lack of depth in regulatory and supervisory knowledge. He has one settled customer dispute indicating issues with disclosure to clients.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
John Savini Customer Complaint and Reviews
Settled Customer Dispute (April 2023): This dispute was settled with the customer after allegations that Savini had misled the client into rolling over a deferred compensation plan into a variable annuity in October 2022. The client was concerned about the inability to withdraw funds without facing surrender charges. The settlement amount totaled $17,394.35, reflecting the gravity of the issue and its resolution in the client’s favor. Although Savini did not contribute personally to the settlement, the incident likely has had a detrimental impact on his professional reputation.
Allegations Against John Savini
- Misleading Sales Practices: The primary allegation against Savini was that he provided misleading information about the terms and liquidity of a variable annuity, which could have led the client to make an uninformed financial decision.
- Surrender Charges Issue: The complaint specifically addressed the issue of surrender charges that locked the client’s funds, contrary to the client’s understanding and financial needs at the time of investment.
These accusations, though resolved through a financial settlement, highlight significant concerns regarding Savini’s adherence to ethical standards in providing clear and truthful financial advice.
John Savini Red Flags & Your Rights As An Investor
Of course, John Savini did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of John Savini at NYLife Securities LLC on alert to review carefully the activity and performance of their accounts and question whether John Savini has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at NYLife Securities LLC also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At NYLife Securities LLC Due To John Savini
If you have questions about NYLife Securities LLC and/or John Savini and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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