Stoltmann Law Offices is investigating Cecil Nivens, a former advisor with NYLife Securities in Gastonia, North Carolina. Nivens allegedly recommended that his customers purchase variable universal life (VUL) insurance policies. He then used the proceeds from the customers’ existing variable annuities to pay for the VUL premiums. This resulted in the customers paying taxes on the withdrawals from the variable annuities. Nivens was terminated from NYLife Securities and the firm paid out over $558,000 in settlements to Nivens former customers. If you lost money with Cecil Nivens, please call our securities law firm for a free consultation with an attorney. We may be able to help you bring a claim against NYLife Securities for not properly supervising Nivens. There is no obligation. We are based in Chicago, Illinois. 312-332-4200.
Nivens was registered with NYLife Securities in Gastonia, North Carolina from May 1991 until February 2014. He has 11 customer disputes against him. He is currently not registered within the industry.
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