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Jay Petty Of MML Investors Services And Formerly With CUNA Brokerage Services Has A Customer Complaint For Alleged Broker Misconduct

Who is Jay Petty of MML Investors Services?

Jay Petty (CRD #2895602) who is currently registered with MML Investors Services and located in Carlsbad, California is a subject of one of our many securities industry sales practice abuse investigations. Prior to MML Investors Services, Jay Petty was associated with CUNA Brokerage Services and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Jay Petty Customer Complaint

Jay Petty has been the subject of at least one customer complaint that we know about. The allegations made in the FINRA reported customer complaint for investment losses were advisor provided retirement projections for the 457f plan and used a 10% tax rate. The 457f plan had a lump sum vesting so the amount paid to the executive would be in a single sum pushing them into a much higher tax bracket likely 35%. This caused the amount in the funding account to be short of what was needed to pay the benefit promised in the 457f agreement. The Credit Union Board felt that CUNA should cover the shortfall. They have already taken steps to liquidate the funding account associated with the 457f plan. Jay Petty’s customer complaint was denied and, to date, the customer has not taken any further action.

Jay Petty Red Flags & Your Rights As An Investor

Of course, Jay Petty 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 Jay Petty at MML Investors Services and CUNA Brokerage Services on alert to review carefully the activity and performance of their accounts and question whether Jay Petty has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at MML Investors Services and CUNA Brokerage Services also raises questions about the brokerage firm’s 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 Jay Petty

If you have questions about MML Investors Services, CUNA Brokerage Services, and/or Jay Petty 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.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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