Eric Bailey: Lincoln Financial Denies $148K Complaint

A recent, denied investor complaint against Silver Spring, Maryland financial advisor Eric Bailey (CRD# 1279349) alleges that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Lincoln Financial Advisors, and that he is the owner of Bailey Wealth Advisors.

Mr. Bailey’s BrokerCheck report discloses one investor complaint. Filed in January 2024, it alleged that as a representative of Lincoln Financial Advisors, he recommended an unsuitable variable universal life insurance policy. The complaint alleged damages of $148,000 and was denied by the firm. “The firm found no evidence to support the client’s claim that the VUL policy was unsuitable and not in her best interest,” reads a statement included with the disclosure.

Bailey Wealth Advisors’ website includes a profile of Mr. Bailey that describes his background and approach to serving his clients. “The hallmark of his firm is a fee-based, holistic approach to coordinating the activities of multiple advisors and professionals that help ensure clients’ objectives are identified, strategies are defined, and a clear plan is implemented as prescribed,” it explains. “Utilizing this client, business, and family-centered process helps assure clients are well-positioned to maintain financial stability and create legacy for themselves, their family, and the charitable causes or institutions they care deeply about.”

According to the Financial Industry Regulatory Authority, Eric Bailey holds 39 years of securities industry experience. Based in Silver Spring, Maryland, he has been registered as a broker and an investment advisor with Lincoln Financial Advisors since 1997. His past registrations include the Lincoln National Life Insurance Company (Fort Wayne, Indiana; 1997-2006) and Cigna Financial Advisors (Radnor, Pennsylvania; 1984-1997). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Direct Participation Programs Representative Examination, or Series 22; the Corporate Securities Limited Representative Examination, or Series 62; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 25 state licenses. (Information current as of June 5, 2024.)

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