Jeffrey Perryman was previously an agent of New York Life Insurance, NY Life Securities and Eagle Strategies. He operated primarily in Fort Collins and Windsor, Colorado. We have filed suit against Perryman’s former employers and are working with a number of investors who allege improper life insurance sales by Perryman and that Perryman charged improper fees. Some have also alleged that he forged initials or signatures on insurance policy documents.
Life insurance is an expensive and is often an unsuitable way of investing retirement savings. Advisors and agents often have an inappropriate incentive to sell excessive amounts of insurance in the form of a heightened commission. When many advisors should be recommending securities like bonds or fixed income investments, which pay commissions of less than 1%, advisors like Perryman are alleged to have recommended an unsuitable level of life insurance because such investments pay commissions several times greater. Adding to this, investors allege Perryman charged management fees, in addition to the commissions, to oversee the policies.
New York Life and its various financial services arms discontinued its relationship with Perryman on April 11, 2024. Perryman resigned after New York Life allegedly found that he exceeded the scope of his approved activities as an investment advisor for charging for unapproved fees. Perryman had been an employee of New York Life since the early 1990s.
On October 7, 2024, Perryman consented to the sanction of a permanent bar from the securities brokerage industry. Perryman entered into this settlement after failing to cooperate with regulators investigating his actions. The regulator sought information concerning Perryman’s fees into the alleged unapproved activity.
There are also four resolved customer disputes involving settlements of claims by Perryman’s employers.
We are a firm that believes in informing investors. Please contact us with any information or questions concerning this matter.
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