New York Financial Adviser Has Multiple Customer Disputes on Record
The Financial Industry Regulatory Authority (FINRA) has suspended ex-MML Investors Services LLC broker Adam Gerard Belardino. The suspension runs from February 2021 until Belardino either provides the information that the self-regulatory organization (SRO) has requested or the suspension becomes a permanent bar.
Belardino, who is also a former registered investment advisor, has several disclosures on his BrokerCheck, including six customer disputes. MML Investors Services fired Belardino in 2019. The firm, in its Form U5, said that this was in connection to a customer complaint accusing the then-broker of excessive trading, making misrepresentations, and other negligence and broker misconduct.
The broker-dealer later submitted several other Form U-5s with more complaints against Belardino that were brought by customers. This included an allegedly unsuitable investment recommendation of a real estate investment trust (REIT) that was sold to a conservative investor.
Belardino has since failed to appear before FINRA to provide testimony into its investigation of his firing and the subsequent allegations.
Other Disclosures on Adam Belardino’s BrokerCheck Record
There are several other disclosures and investor claims against the former MML Investors Services broker including:
- 3/2021: This customer dispute involves an allegedly unsuitable REIT sale.
- 4/2020: This claimant alleged misrepresentations involving a variable universal life insurance policy. They received a nearly $52K settlement.
- 5/2019: This investor claim, alleging misrepresentations and accusing Belardino of acting without their consent, was denied.
- 5/2019: The claimants in this investor dispute alleged unauthorized transactions and fraud. They had requested $5K in damages and received a nearly $70K settlement.
- 4/2019: Alleging mutual fund fraud, the investors received a nearly $7K settlement.
- 3/2018: The customers sought $5K in damages after alleging misrepresentations, excessive trading, and other claims. They received a $1.5M settlement.
Other broker-dealers where Adam Belardino was registered include MSI Financial Services, Metropolitan Life Insurance Company, and MetLife Securities.
Experienced Broker Fraud Attorneys
Our New York broker fraud lawyers represent investors who have suffered losses due to their fraudulent or negligent actions. Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) works with retail investors, institutional investors, and wealthy individual investors nationwide.
Working with a knowledgeable team of securities fraud attorneys increases your chances of financial recovery while allowing you to rest easy in the knowledge that you are working with legal professionals who will fight for you and protect your rights.