Last Updated: Spetember 2025 (Frisco, TX)
Trey Brown Investigation Summary
Here’s what you need to know about Frisco, TX, former stockbroker Raymond Trey Brown:
- Name: Raymond Trey Brown
- Last Registered Employer: Northwestern Mutual Investment Services, LLC
- CRD Number: 6170291
- Function: Former Stockbroker / Financial Advisor
- Primary Location: Frisco, TX
- Aliases: Trey Brown
- Can Raymond Brown be sued in FINRA arbitration? Yes
- Sanctioned by FINRA: No
- Employment Separation after Allegations: Yes
- Highest Settlement or Award: $135,541
- Pending Customer Dispute Over variable universal life insurance policy: Yes
If you’ve sustained damages from Mr. Brown, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Trey Brown As Your Stockbroker?
Trey Brown has been the subject of customer disputes and employment termination following allegations of misconduct, including the following.
- Pending Customer Complaint – alleges that Brown sold customer a variable life insurance policy in June 2024 without cusotmers knowledge or permission adn without customer’s understanding that a loan had been taken from customer’s non-variable life insurance policy to fund premiums on the new variable policy. Customer alleges that Trey Brown misled customer to believe the amount withdrawn from non-variable policy was cash value and not a loan. A damage amount has not yet been specified.
- Customer Complaint: November 13, 2024, a customer alleged misrepresentation and lack of diversification in the sale of a variable universal life insurance policy. Customer alleges Brown didn’t provide any investment diversification and only recommended life insurance. Settled for $7,565 in 1/2025.
- Customer Complaint (Settled for $109,752): Filed on September 19, 2024, the complaint alleged misrepresentation in the sale of two variable life insurance policies, including misleading statements about liquidity. Customers claimed they did not understand that they were purchasing life insurance and that they cannot afford the premiums.
- Customer Complaint (Settled for $135,541) : In 6/2025 another customer complaint related to the sale of insurance was settled.
- Employment Separation: Trey Brown was “permitted to resign” from Northwestern Mutual Investment Services in 12/2024.
Allegations of Broker Misconduct Involving Life Insurance Recommendations
Customers and a former employer have alleged the following misconduct against Trey Brown:
- Misrepresentation:
Customers allege that Mr. Brown provided misleading information regarding the liquidity and suitability of life insurance policies, violating FINRA Rule 2020, which prohibits deceptive or fraudulent practices. - Unsuitable Investment Recommendations:
Allegations include selling unsuitable life insurance policies and overconcentrating client portfolios, violating FINRA Rule 2111 on suitability.
Other Investigations involving Insurance
FINRA mandates brokers to disclose customer complaints, regulatory actions, and employment terminations, which are critical for evaluating a broker’s integrity and compliance with industry standards.
FINRA Rule 2111- suitability -Regulation Best Interest
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Raymond “Trey” Brown, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
Investigations of other Northwestern Mutual Investment Services Brokers
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.