Cody Moran: Bankers Life Advisor Faced $1.8mm Complaint

A recent, denied investor complaint against Cedar Rapids, Iowa financial advisor Cody Moran (CRD# 6939984) alleged that his conduct resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Bankers Life Securities.

Mr. Moran’s BrokerCheck report discloses four investor complaints. The most recent, filed in March 2026, alleges that as a representative of Bankers Life, he did not fully inform the customer regarding an annuity purchase. The complaint alleged damages of $1.8 million and was denied by the firm. “The risks and benefits of the annuity were thoroughly discussed with the client,” Mr. Moran wrote in a statement included with the complaint. “We discussed surrender period and I believe the recommendation was in the best interest of the client.”

A second investor complaint, filed in 2024, alleged that he took advantage of the clients in connection with the purchase of annuities, and that he allegedly did not inform the customers about the surrender schedule or the penalties for early withdrawals. The complaint alleged damages of $70,000 and was denied by the firm.

A third investor complaint, filed in 2023, similarly alleged that as a Bankers Life representative, he made misrepresentations regarding a fixed annuity investment. The complaint alleged damages of $65,543.93 and was denied by the firm.

A fourth investor complaint, filed in 2019, alleged that as a representative of Bankers Life, he omitted information regarding an annuity investment. The complaint alleged damages of $7,632 and was denied by the firm.

According to the Financial Industry Regulatory Authority, Cody Moran holds eight years of securities industry experience. Based in Cedar Rapids, Iowa, he has been registered as a broker with Bankers Life Securities since 2018. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He is licensed in California, Illinois, Iowa, Nebraska, and Wisconsin. (Information current as of May 23, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.