DID ADAM GERARD BELARDINO CAUSE YOU INVESTMENT LOSSES?
Adam Gerard Belardino formerly with MML Investors Services, LLC Has 5 Customer Complaints for Alleged Broker Misconduct in the Past 2 Years
Who is Adam G. Belardino formerly with MML Investors Services, LLC?
Adam Belardino (CRD #5221927) who was formerly registered with MML Investors Services, LLC and MSI Financial Services, Inc. and located in Elmsford, New York is a subject of one of our many securities industry sales practice abuse investigations.
Prior to MML Investors Services, LLC, Adam Belardino was associated with MSI Financial Services, Inc. and 3 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.
MML Investors Services, LLC Broker Misconduct
In his career, Adam Belardino has been the subject of 5 customer complaints that we know about, 3 of those complaints were filed in the last year to recover investment losses. One of those cases settled for over $1.5 million.
Three of Adam Belardino’s 5 customer complaints were settled in favor of investors. He was terminated by his last employer in connection with its investigation of a customer complaint. There is currently one pending customer complaints filed against Adam Belardino’s former employer MML Investors Services, LLC for investment losses caused by his alleged misconduct.
Allegations Against Adam Belardino
A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:
- The Complainant alleges that the representative misrepresented, the Variable Universal Life policy he purchased in 2017. The customer states that it was never explained to him, that he could lose value when the policy if he failed to pay the premiums.
- The complainants alleges that in and around July 2018, mutual fund trades were executed in their joint brokerage account without their consent, and the signatures used were not valid. They also state that a whole life insurance policy was purchased, but they never agreed to the policy premium, nor was the policy delivered. They also state they did not sign the pre-authorized check form approving the withdrawal of the premium, or the delivery receipt confirming delivery. The signatures on both forms were not valid. The Complainants further alleged that a Variable Universal Life insurance policy was also surrendered without their knowledge, and as a result, surrender fees were incurred.
- Beginning in November 2018, the customers have alleged that the representative misrepresented their account values, engaged in excess of levels of training, and failed to comply with requests to have their accounts liquidated and the proceeds distributed. This case was settled by the brokerage firm for $1,537,066.34.
- The customers alleged that the representative misrepresented features of and acted without their consent. With regards to their investments.
- The customers alleged that the representative conducted unauthorized transactions and solicited new accounts under false pretenses.
Adam Belardino Red Flags & Your Rights as An Investor
Of course, Adam Belardino did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Adam Belardino at MML Investors Services, LLC and MSI Financial Services, Inc. on alert to review carefully the activity and performance of their accounts and question whether Adam Belardino has engaged in any stockbroker misconduct that may have caused them investment losses.
The large number of customer complaints at MML Investors Services, LLC and MSI Financial Services, Inc. also raises questions about supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim to Recover Your Investment Losses At MML Investors Services, LLC
If you have questions about MML Investors Services, LLC and MSI Financial Services, Inc. and/or Adam Belardino and the management or performance of your accounts please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.