Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on October 26, 2018 indicate that California-based Northwestern Mutual Investment Services broker Karen Dry has received a customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Ms. Dry (CRD# 5669963).
Karen Dry has spent eight years in the securities industry and has been registered with Northwestern Mutual Investment Services in Woodland Hills, California since 2010. She has no previous registrations. She has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which she obtained on October 26, 2010; SIE (Securities Industry Essentials Examination), which she obtained on October 1, 2018; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which she obtained on August 9, 2010. She is a registered broker with nine US states and territories: Arizona, California, Georgia, Hawaii, Illinois, Missouri, Oregon, Pennsylvania, and Texas.
According to his BrokerCheck report, she has received one customer complaint.
In August 2018 a customer, the board chairman of a corporation, alleged Karen Dry, while employed at Northwestern Mutual Investment Services, committed fraud in connection to the sale of a variable annuity product and three non-variable life insurance policies “as a benefit to four company employees, where the corporation was the premium payer,” without obtaining the board’s approval as the payer.The complaint settled in October 2018 for more than $326,600. The “Broker Comment” on this disclosure reads as follows: “The Firm’s review found no wrongdoing by representative. Firm found it was appropriate and reasonable for representative to rely on representations from company employees including CFO and President that proper internal authorization had been obtained for company to pay the premiums. To resolve the complaint, the Firm settled with the complainant by rescinding the products and refunding all premiums paid by the corporation.”
If you or someone you know has lost money investing with Karen Dry, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.