Robert Murphy Subject of an Annuity Dispute

Robert Murphy (CRD #: 718738), a broker registered with Lifemark Securities Corp., is the subject of an investor dispute. This dispute appears on his BrokerCheck record, accessed on September 18, 2023. Keep reading for more details. 

On July 17, 2023, an investor alleged that Robert Murphy did not disclose all the facts regarding the Command account. The investor was allegedly told their investment would double between 2017 and 2023. The investor further alleged that the annuity they purchased did not include a spousal income rider which they alleged was the most important aspect of the policy. 

The investor is seeking $99,706.74 but the dispute was denied. Investors should know, however, that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

FINRA Rule 2020

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

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violating FINRA Rule 2020 also violates this rule. 

Background Information 

Robert Murphy has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• Series 6TO Investment Company Products / Variable Contracts Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 1 Registered Representative Examination 

He is a registered broker in New York. 

Robert Murphy has registered with the following firms: 

• Lifemark Securities Corp (CRD #: 16204) 
• Pruco Securities (CRD #: 5685) 
• MML Investors Services (CRD #: 10409) 
• MSI Financial Services (CRD #: 14251) 
• Metropolitan Life Insurance Company (CRD #: 4095) 

Kurta Law Can Help

If you worked with Robert Murphy and 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 that 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.