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Margarita Flores Allegedly Failed to Fully Inform Investor About VUL Fees

Margarita Flores (CRD #: 2440637), a broker registered with NYLIFE Securities, allegedly failed to fully disclose an insurance policy’s charges, according to her BrokerCheck record, accessed on January 24, 2023. If you want to know more about her alleged conduct as a broker, read on.

Investor Dispute

On November 28, 2022, an investor alleged that Margarita Flores failed to inform him of certain fees, charges, and taxes associated with an additional investment into his existing variable universal insurance policy in November 2022. The client received a settlement of $100,000.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deceptive, manipulative, and otherwise unethical means of influencing the purchase and sale of securities. This includes the misrepresentation or omission of information, such as an investment’s requirements or limitations.

What are Variable Universal Life Insurance policies?

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

Margarita Flores has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Margarita Flores is a registered broker in California, New Mexico, and Texas.

Kurta Law Can Help

If you worked with Margarita Flores 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. 

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