Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, has formally opened an investigation into recent complaints and concerns regarding Rachel-Marie Graham (CRD #7508325), a registered representative currently with State Farm VP Management Corp. and State Farm Investment Management Corp. If you invested with Rachel-Marie Graham in Chicago, IL or elsewhere and have questions about your variable life insurance purchases, we urge you to review the findings below and consider your options for recovery.
Our firm brings unique insider knowledge as former Wall Street defense attorneys. With over 95+ years of combined experience in securities law, a 98% success rate across investor claims, and recognition in the top 2% (Martindale-Hubbell AV Preeminent), Super Lawyers, and 5.0-star client ratings, we focus on helping individual investors recover their funds. There is never a fee unless we recover losses for you (No recovery, no fee).
Advisor Profile: Rachel-Marie Graham (CRD 7508325)
Table of Contents
| Advisor Name | Rachel-Marie Graham |
| Current Broker-Dealer(s) | State Farm VP Management Corp. State Farm Investment Management Corp. |
| Previous Registration | NYLife Securities LLC |
| Location | Chicago, IL (and nationwide) |
| Licenses & Exams | Securities Industry Essentials (SIE), Series 6, Series 63, Series 65 |
Summary of Disclosures & Complaints: Rachel-Marie Graham
We have conducted a comprehensive review using FINRA BrokerCheck, SEC databases, federal and state court dockets, and public regulatory resources. As of our most recent audit, the following red flags and key findings are associated with Rachel-Marie Graham and her broker-dealer relationships in Illinois and nationwide:
- Pending Customer Dispute (Filed June 17, 2026):
- Customers allege Graham recommended four variable universal life insurance policies that did not match their stated investment goals.
- Complainants requested cancellation without surrender penalties, citing product unsuitability and lack of proper explanation of risks and terms.
- The brokerage firm entry lists purchases in June 2024; Graham’s own reported purchase record lists September 2025, showing inconsistencies in trading records.
- Complaint involves NYLife Securities LLC and is focused on insurance product recommendations.
- No explicit damage amount stated by customers, but the brokerage firm has estimated damages in excess of $5,000.
- As of August 26, 2026, the complaint remains pending resolution.
Regulatory Standards in Focus
If you received unsuitable investment recommendations or had undisclosed risks on variable life insurance products, regulatory standards provide the foundation for your rights as an investor. The following rules may be critical for your recovery claim:
- FINRA Rule 2210: Requires all communications with customers to be fair, balanced, and not misleading. Any misrepresentation about fees, terms, or penalties, including surrender charges, can be grounds for recovery.
- FINRA Rule 2111 (Suitability): Mandates that recommendations fit a customer’s financial profile and objectives unless superseded by Regulation Best Interest.
- If a financial advisor recommends complex products like variable universal life insurance that do not fit your goals or risk tolerance, this suitability rule may be violated.
- Regulation Best Interest (Reg BI): Broker-dealers and their representatives must act in your best interest, disclosing conflicts, considering costs, and prioritizing your financial needs above their own compensation. This standard is higher than traditional suitability.
Why Regulation Best Interest Matters
Regulation Best Interest was introduced to address weaknesses of the old “suitability” standard. It puts responsibility on your advisor and the firm to avoid conflicts and recommend products in your best interest, not theirs. If you believe your interests were not prioritized in the sale or management of your variable life insurance or other securities, you may have grounds for recovery, even if there is no explicit misrepresentation, but merely a conflict or failure to explain crucial terms.
How to Identify Red Flags in Your Investment Experience
- Dissatisfaction with high or unexplained surrender charges on variable life insurance policies.
- Investments that do not fit your stated objectives, risk tolerance, or time horizon.
- Changing transaction dates or unclear explanations of trades within your statements.
- Lack of transparency from your advisor about costs, conflicts of interest, or product alternatives.
If any of these warning signs match your experience with Rachel-Marie Graham or State Farm VP Management Corp., you may have a valid claim for recovery.
Rachel-Marie Graham: Regulatory and Disciplinary Background
To date, one customer dispute involving unsuitable variable life policies remains pending. Other than this, no regulatory actions, lawsuits, or enforcement orders have been reported in public databases from the SEC, FINRA, federal or state courts, or state securities regulators. However, the lack of finalized actions does not prevent you from pursuing recovery of losses if your experience mirrors the pending complaint or shows similar unsuitability or lack of full disclosure.
Your Next Step: Free Consultation with Investment Fraud Attorneys
Our attorneys bring decades of direct experience defending financial firms and now use this “insider” knowledge to fight for investors like you. If you suspect losses due to unsuitable advice, unauthorized trades, or improper disclosure regarding variable life insurance or other products sold by Rachel-Marie Graham in Chicago, the State of Illinois, or anywhere nationwide, contact us to discuss your legal options.
We advocate for recovery of your funds, represent your interests in FINRA arbitration or negotiations, and will evaluate your entire account history at no cost to you.
- 98% Success Rate across hundreds of investor claims
- Over $520 million in securities matters handled
- 95+ years combined securities law experience
- No recovery, no fee
Take action now—every day delayed could weaken your case. Call us at 1-888-885-7162 for a free, confidential consultation with one of our seasoned investment fraud attorneys. Our expertise and track record can be the difference in maximizing your recovery and restoring your financial security.
