Timothy Robert Millis of Okemos Michigan a stockbroker registered with NYLife Securities LLC has been terminated by the securities broker dealer on April 1, 2019 supported by accusations that Millis effected inappropriate and unsuitable switches of mutual funds in the accounts of NYLife Securities LLC customers.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Millis has also been subject of a customer dispute from a NYLife Securities LLC customer. Specifically, on April 4, 2019, a customer initiated investment related complaint concerning Millis’ conduct was resolved for $50,279.06 in damages founded on allegations that between February of 2017 and September of 2018, the customer had been assessed unwarranted front-end sales charges upon the purchase of mutual fund shares; and the customer’s annuity was inappropriately liquidated to effect the mutual fund purchases, causing the customer to pay a hefty surrender charge.
