DID GEORGE TENG CAUSE YOU INVESTMENT LOSSES?
George Teng Of MML Investors Services, LLC And Formerly With MSI Financial Services Has 7 Customer Complaints For Alleged Broker Misconduct
Who is George Teng of MML Investors Services, LLC?
George Teng (CRD #2101388) who is currently registered with MML Investors Services, LLC and located in Downers Grove, Illinois is a subject of one of our many securities industry sales practice abuse investigations. Prior to MML Investors Services, LLC, George Teng was associated with MSI Financial Services and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.
George Teng had his own regulatory problems in the State of Illinois, where he was investigated for selling an annuity without complete documentation of the investors financial profile which was allegedly in violation of the Illinois Securities Act. George Teng consented to the sanctions of heightened supervision and restitution.
George Teng Customer Complaints
George Teng has been the subject of 7 customer complaints that we know about. All seven of George Teng’s customers’ complaints were denied and, to date, the customers have not taken any further action.
Allegations Against George Teng
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Client alleged she was misled by George Teng and that she did not know there were surrender charges associated with the variable annuity she purchased. Client requested a full refund of her money and a waiver of the surrender charges.
- Client alleged that given her age, George Teng made unsuitable recommendations when he advised her to purchase two variable annuities and a life insurance policy.
- Customer alleged George Teng misrepresented the variable annuity purchased.
- Customer alleged that when she transferred her existing variable annuity into a Metlife variable annuity George Teng allegedly did not disclose the new annuity would have a surrender charge schedule. Customer also alleged that when she signed forms to transfer funds, from another company, she did not realize she was funding a second variable annuity. She cancelled this transfer.
- Customer alleged the variable annuity purchased was not suitable because George Teng allegedly knew she was recently widowed.
- Customers alleged George Teng did not disclose the charges associated with the liquidation of their variable annuities when it was discussed.
- The customer alleged that George Teng misled him to believe that the variable annuity product was the only investment option available to him, did not disclose the surrender charges, and allocated the account above his risk tolerance level during the solicitation.
George Teng Red Flags & Your Rights As An Investor
Of course, George Teng 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 George Teng at MML Investors Services, LLC and MSI Financial Services on alert to review carefully the activity and performance of their accounts and question whether George Teng 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 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, LLC Due To George Teng
If you have questions about MML Investors Services, MSI Financial Services, LLC, and/or George Teng 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.