Jakob J.
I am deeply disappointed with my advisor and experience with the company.
I am deeply disappointed with my experience with New York Life. After my mother died, I trusted a New York Life advisor to help me manage the money I inherited. I signed paperwork while grieving because I relied on that advisor’s guidance. I did not understand that I was agreeing to place inherited funds in annuities. Had I understood the products, the restrictions on accessing my money, and the consequences of getting out, I would not have agreed. It took three months for me to access my money. During that time, I had to deal with withdrawal and surrender procedures while trying to get clear answers about what would happen to the funds my mother left me. I am also facing a tax burden of more than $250,000. I am still working through the tax consequences, but that figure alone shows how serious the financial stakes are for me. I raised my concerns with New York Life and asked the company to review what happened. I want answers about how these annuities were explained to me, why I was placed in products I did not understand or want, and what New York Life will do to address my concerns. A signature on a form does not tell the whole story. People deserve to understand where their money is going, how they can access it, what it costs to surrender an investment, and what the tax consequences may be. I trusted a professional to make those things clear during one of the hardest periods of my life. My experience left me feeling misled, financially exposed, and profoundly let down. I am sharing this so others know to demand plain answers in writing and independent advice before signing financial paperwork—especially when they are grieving. New York Life may have its own account of what happened. This is mine.