Articles Tagged with MML Investors Services

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. 

Allegedly Unsuitable Recommendations Caused Senior Investor Loss of Savings

A Brunswick, Georgia retiree has filed a Financial Industry Regulatory Authority (FINRA) arbitration case against broker-dealer MML Investors Services, LLC. The investor contends that a broker from the firm overconcentrated his IRA and a non-IRA account in CNL Lifestyle Properties, which is an illiquid, privately traded real estate investment trust (non-traded REIT). 

This caused him to lose a large portion of his savings. Now, the investor is alleging failure to supervise, unauthorized transactions, securities fraud, broker negligence, breach of duty, breach of contract, violation of state securities laws, and other claims.  He is seeking up to $100K plus interest and costs.  

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