Broker Raymond Trey Brown Subject Of 8 Disclosures

Raymond Brown (Raymond Trey Brown, CRD# 6170291) is a previously registered broker employed by Northwestern Mutual Investment Services, LLC (CRD# 2881) of Frisco, Texas. He has been in the industry since 2014.

Brown is the subject of eight disclosures, seven of which are customer disputes. He was “permitted to resign” on 12/4/2024 after becoming the subject of an internal review into his sales practices by Northwestern. In this disclosure, Northwestern stated that Brown:

• Provided clients with incorrect or misleading information
• Engaged in unsuitable life insurance policy sales
• Oversold policies for his own benefit (i.e., commissions)
• Provided inaccurate income data for clients to ensure their suitability

No additional information is available for this discharge.

Customer Disputes And FINRA Arbitration

The most recent customer dispute was filed on July 17, 2025, regarding a variable life insurance policy. The customer alleges that around June 2024, Brown sold him a variable universal life insurance policy without his knowledge or understanding. He further claims that a loan was taken from his existing non-variable life insurance policy to pay the premium on the new variable policy, without his consent or awareness.

This customer also stated that Brown misrepresented the transaction, leading him to believe that the funds deposited into his account from the non-variable policy were a withdrawal of its cash value rather than a loan. Additionally, the customer claims that subsequent debits from his account were described as returns of overpayments from the non-variable policy, when in fact they were premium payments for the new variable policy. This dispute is currently “pending,” and there is no mention of the requested damages.

From September 19, 2024, to May 15, 2025, six additional disputes were filed with similar allegations of misrepresentation. They included similar variable life insurance policies with monthly premiums. In some cases, Brown erroneously informed customers that there were no premiums, and they were not informed of the consequences of stopping premium payments. Another customer stated that they were only offered life insurance as an investment, and Brown assured them that they had liquidity when they did not.

None of the customers were given an accurate description of the policy or the terms, and did not have a full understanding of the insurance or associated transactions. These disputes included requested damages totaling $207,882.00 and collective settlements of $324,463.57.

Unsuitable Recommendations and Breach of Fiduciary Duty

Investors expect that when their broker or investment advisor suggests something, they can trust their advice. Unfortunately, that’s not always the case.

A broker or investment advisor must consider several factors before making a recommendation. This includes the investor’s objectives, risks, and risk tolerance, overall complexity, and their age. For instance, a cryptocurrency investment that may work for a 40-year-old investor who understands crypto and has some capacity for risk may not be suitable for the investor’s 80-year-old father, who prefers low risk, liquidity, and a more conservative profile.

When a financial representative recommends cryptocurrency to the 80-year-old investor, that is freqeuntly unsuitable. Financial incentives to brokers and investment advisors incentivize them to recommend investments that may be unsuitable for some of their customers. An older investor may not have the capacity to recover from a larger loss as a younger one might, making a high-risk cryptocurrency investment unsuitable for them.

Investors of all ages should always research these products before investing. Don’t be afraid to ask questions of the broker who’s making these recommendations, as well as asking others, such as a relative or legal counsel. FINRA’s website has a wealth of information on investing. The website also includes a helpline for senior investors.

Did You Invest With Raymond Brown? 

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses from stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 and let us know how we can help.