Our firm is investigating NYLIFE Securities LLC broker So Young Yom (CRD# 4243462) of Los Angeles, California for potential investment-related misconduct arising from a pending customer dispute concerning the sale and handling of variable universal life insurance policies.
Financial Advisor’s Career History
So Young Yom has been registered in the securities industry since 2001. According to FINRA BrokerCheck, Yom is currently a registered representative of NYLIFE Securities LLC (CRD# 5167), associated with the firm’s Los Angeles, California branch office, and is also an agent of New York Life Insurance Company.
Over the course of her career, Yom has been associated with the following FINRA-member firms:
- WMA Securities, Inc. (CRD# 32625), Duluth, Georgia (03/2001 – 11/2001)
- NYLIFE Securities Inc. (CRD# 5167), New York, New York (12/2001 – 05/2004)
- Pruco Securities, LLC (CRD# 5685), Los Angeles, California (05/2004 – 10/2008)
- NYLIFE Securities LLC (CRD# 5167), Los Angeles, California (11/2008 – Present)
She has passed the Securities Industry Essentials (SIE), Series 6, and Series 63 examinations and is registered in at least one U.S. state.
So Young Yom Fraud Allegations and Investor Complaints Explained
According to the most recent FINRA BrokerCheck report, So Young Yom currently has one pending customer dispute disclosure related to her activities with NYLIFE Securities LLC. The disclosure involves allegations tied to the sale and administration of variable universal life (VUL) insurance policies.
FINRA Disclosure Details (Customer Dispute – Pending)
- Type of Disclosure: Customer Dispute (Pending)
- Reporting Source: Broker
- Employing Firm at Issue: NYLIFE Securities LLC
- Product Type: Insurance (Variable Universal Life policies)
- Relevant Transaction Period: Policies sold in December 2013
- Date Complaint Received: September 22, 2025
- Allegations:
- Representative allegedly did not fully explain the variable universal life policies sold to the policyowner’s parents.
- Alleged transfer of ownership of the policies to the policyowner without her knowledge or consent.
- Alleged Damages: Company estimates damages could exceed $5,000 (customer seeks refund of premiums paid).
- Status: Complaint pending; no final adjudication or settlement reported as of the latest filing.
These are unproven allegations. The pending disclosure may ultimately be denied, withdrawn, settled without admission of liability, or result in findings against the broker or firm. Investors should carefully review the full BrokerCheck record and consult counsel to evaluate potential claims.
Summary of Reported Disclosure
- Customer Dispute (Pending): Alleged failure to adequately explain complex VUL policies and alleged unauthorized transfer of policy ownership; estimated damages potentially exceeding $5,000; matter remains unresolved.
Investors who purchased variable universal life or other insurance/investment products through So Young Yom or NYLIFE Securities LLC and believe they were misled, misinformed, or had accounts or policies changed without consent may have potential claims for recovery through FINRA arbitration, depending on the facts and timing of their investments.
To obtain a copy of So Young Yom’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2010 requires brokers to “observe high standards of commercial honor and just and equitable principles of trade.” A registered representative who recommends complex variable universal life policies without fully and fairly explaining their features, costs, and risks, or who participates in or facilitates a change in policy ownership without the informed consent of the affected party, may be found to have violated Rule 2010. In the pending allegations against So Young Yom, the claims—if proven—suggest potential breaches of these ethical standards by failing to provide transparent, comprehensible information and by allegedly permitting or effecting an ownership transfer inconsistent with the customer’s understanding and consent.
FINRA Rule 2111 (Suitability) obligates brokers to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer based on that customer’s investment profile, and to understand the products they recommend. Variable universal life policies are complex, long-term products with investment, cost, and insurance components that must be clearly explained. If an advisor recommends such policies to elderly or unsophisticated customers without ensuring they understand premium requirements, surrender charges, policy performance, and ownership implications, or structures the transaction in a way that is inconsistent with the customers’ financial needs and objectives, that conduct may violate Rule 2111. The pending complaint’s allegations that the policies were not fully explained, combined with the requested refund of premiums, raise suitability and disclosure concerns that will likely be evaluated under Rule 2111 if the matter proceeds.
FINRA Rule 2150 prohibits the improper use of customer funds or securities and addresses conduct akin to conversion or misuse of customer assets. While the current disclosure involving So Young Yom centers on variable universal life policies, an alleged transfer of policy ownership without the policyowner’s knowledge or consent, if proven, could implicate principles underlying Rule 2150 and Rule 2010 by suggesting unauthorized control or misuse of property intended for another. Even if no direct “taking” of funds is alleged, causing or allowing an unauthorized ownership change in a policy designed for a specific insured or beneficiary may be viewed as a serious breach of trust and a violation of FINRA’s core customer protection standards.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.