Michael Christian Richard (CRD#5987114) and BANKERS LIFE SECURITIES, INC.

The Securities Lawyers at Halling & Cayo, S.C. are looking into potential claims against Michael Christian Richard (CRD#5987114) regarding allegations made regarding the following:

Claim(s) Made Against Michael Christian Richard:

Claim Date: 1/13/2020

“In a written complaint, dated January 13, 2020, addressed to Bankers Life and Casualty Company (BLC), an insurance company affiliate of the Firm, [REDACTED] alleged that his registered representative misrepresented the rate of return associated with his Guaranteed Lifetime Income Annuity (GLIA) issued by and purchased from BLC in December of 2018. [REDACTED] alleged that his registered representative told him he would receive 50% of the total return of the S&P 500 during his policy calendar year, but received a much lower percentage. [REDACTED] requested the cancellation of his annuity without the assessment of surrender charges. BLC determined that the rate of return was disclosed to [REDACTED] both in the executed policy paperwork and verbally by his registered representative and denied [REDACTED] claim to cancel the annuity without surrender charges. While the GLIA sold to [REDACTED] was not a security and was issued by BLC, the Firm is reporting this complaint because the source of funding for the BLC annuity came from the sale of securities recommended by a registered representative of the Firm.”

This claim, as of this posting, is currently Denied with a claim amount of $37,832.00 .

See more information on FINRA’s BrokerCheck site for Michael Christian Richard.

Did you have a negative experience with Michael Christian Richard?

We are currently considering bringing claims on behalf of individual investors or groups of investors who have lost funds. Many customers have signed FINRA arbitration agreements that outline the process for resolving disputes, including claims for investment loss recovery. As the SEC advises, it is important to find an attorney who has experience handling securities complaints. If you were a customer of Michael Christian Richard and BANKERS LIFE SECURITIES, INC. and experienced investment losses, please get in touch with the Securities Lawyers. We only receive payment if we can recover your money. Please note that there may be time limits or statutes of limitations that apply to your claim, so it is important to contact an attorney as soon as possible.

If you are a former client of Michael Christian Richard and BANKERS LIFE SECURITIES, INC. from SARASOTA, FL, and have encountered any issues or problems, the Securities Lawyers at Halling & Cayo, S.C. want to speak with you about the possibility of pursuing a claim. Brokerage firms have a duty to oversee all of their registered representatives, including Michael Christian Richard, and ensure that they follow all securities regulations, rules, and internal policies. If a brokerage firm fails in this duty, it may be held accountable for investment losses sustained by customers due to a lack of supervision.

Contact The Securities Lawyers


Sean M. Sweeney is a shareholder at Halling and Cayo, a full service law firm in Milwaukee, WI and the head of its Securities Litigation team.

He represents individual and institutional investors in FINRA arbitration and court nationwide. He recovers investment losses from fraud or breach of duty from their broker-dealer.

Contact him at (414) 755-5020 or via e-mail at SMS@hallingcayo.com to see if he can help recover your funds.