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DID ERIC SHAWNYEE TOM CAUSE YOU INVESTMENT LOSSES?

Eric Tom of MML Investors Services and Formerly with MSI Financial Has 11 Customer Complaints for Alleged Broker Misconduct

Who is Eric Tom of MML Investors Services?

Eric Tom (CRD #1890823) who is currently registered with MML Investors Services and located in East Hills, New York is a subject of one of our many securities industry sales practice abuse investigations.

Prior to MML Investors Services, Eric Tom was associated with MSI Financial Services and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Eric Tom Customer Complaints

Eric Tom has been the subject of 11 customer complaints that we know about, one of those complaints was filed in the last year to recover investment losses.

One of Eric Tom’s 11 customer complaints was settled in favor of investors. Eight of Eric Tom’s customers’ complaints were denied and the customers did not take any further action. The last customer complaint against MSI Financial remains pending.

Allegations Against Eric Tom

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • The client alleges misrepresentations were made to him by Eric Tom when he purchased a variable life policy.
  • The client alleges that Eric Tom never informed him of the existence of the waiver of premium rider declaration after reviewing his Bankers Life Policy. The client also alleges that Mr. Tom never issued a disclosure statement pertaining to the MetLife Variable Universal Life Insurance Policy he purchased.
  • The customer alleged that funds provided to the representative Eric Tom, for the purchase of a variable life insurance policy, were not used as directed. No specific compensatory damages were alleged.
  • The customer alleged that the representative Eric Tom did not explain the premium may increase when a variable life insurance policy was purchased. No specific compensatory damages were alleged.
  • The customer alleged the advisor Eric Tom misrepresented the features of the variable life insurance policy purchased.
  • The customer alleged the deferred sales charges were not clearly explained when a variable annuity was sold by the advisor Eric Tom.
  • The customer alleged the representative Eric Tom did not explain risk when funds were invested in a mutual fund. No specific compensatory damages were alleged.
  • The customer alleged the representative Eric Tom did not fully explain the variable annuity purchased. No specific compensatory damages were alleged.
  • Customers have alleged Eric Tom’s recommendation to purchase a bond fund was not appropriate. No specific compensatory damages was alleged.
  • The complainant alleges that the investments that were sold to him by Eric Tom did not match his expressed financial objectives and he has lost money as a result.
  • The customer alleged the advisor Eric Tom misrepresented the variable annuity when purchased. No specific compensatory damages were alleged.

Eric Tom Red Flags & Your Rights as An Investor

Of course, Eric Tom 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 that should put all current and former customers of Eric Tom at MML Investors Services and MSI Financial on alert to review carefully the activity and performance of their accounts and question whether Eric Tom has engaged in any stockbroker misconduct that may have caused them investment losses.

The large number of customer complaints at MML Investors Services and MSI Financial also raises questions about the brokerage firms’ 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 Due to Eric Tom

If you have questions about MML Investors Services, MSI Financial, and/or Eric Tom 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.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce has been a trial attorney for more than 40 years and is the founding partner of The Law Offices of Robert Wayne Pearce. You can learn more about Robert and his accomplishments by clicking here.

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