Investor Alleges Kim Dwyer Misrepresented VUL

Kim Dwyer (CRD #: 6642582), a broker registered with Thrivent Investment Management, allegedly misrepresented an insurance policy, according to her BrokerCheck record, accessed on June 22, 2023. Keep reading to learn more about her alleged conduct as a broker.

Investor Dispute

On April 19, 2023, an investor alleged that Kim Dwyer misrepresented a Variable Universal Life insurance policy (VUL) purchased in March 2019 and that this policy was unsuitable. The client sought $65,267.94 in damages but the dispute was denied by the firm.

Investors should know, however, that firms don’t need to permit an outside review before denying a dispute. Investors can still seek out FINRA arbitration and potentially recover their losses following a denial.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which describes their risk tolerance, tax status, and other characteristics.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

What is Variable Universal Life Insurance?

Unlike other forms of life insurance, Variable Universal Life insurance policies (VULs) invest a portion of investors’ premiums. These investments determine whether the policy’s value increases or decreases, so investors’ returns are not guaranteed.

Background Information

Kim Dwyer has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Kim Dwyer is a registered broker in eight states and a registered investment adviser in Michigan and Texas.

Kurta Law Can Help

If you worked with Kim Dwyer and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.