Old man holding onto piggy bank

David Michael Webb of San Antonio Texas a stockbroker currently registered with NYLife Securities LLC is the subject of a customer initiated investment related written complaint which settled on June 8, 2018 to resolve allegations that the customer was advised to utilize the customer’s American Equities funds for the purchase of a variable annuity that was not suitable for the customer.

Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that on June 30, 2015, another customer filed an investment related complaint involving Webb’s activities where the customer requested $6,640.96 in damages supported by accusations that Webb failed to apprise the customer about tax obligations pertaining to the use of variable annuity proceeds for the purchase of a life insurance policy.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. Over the last three decades, we have recovered tens of millions of dollars for more than 1,000 injured investors from all over the United States and from all over the World. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com