Did you lose money investing with former MML Investors Services, Inc. broker Jon Reppert (CRD# 1474315)? Reppert was registered with Madison Avenue Securities, LLC in Addison, Texas from 2017 to 2018 and previously with Kalos Capital, Inc. in Addison, Texas from 2011 to 2017.
In February 2020, the Texas state securities board censured Reppert and ordered him to pay a $15,000 fine, regarding “administrative disciplinary order reprimanding an investment adviser and agent.”
Reppert has been the subject of one customer complaint in 2019, according to his CRD report:
December 2019. “The complainant alleges that the variable life insurance policy purchased in 1994 was misrepresented.” The customer is seeking $18,300,000 in damages and the case is currently pending. The complaint was regarding insurance and took place while Reppert was registered with MML Investors Services, Inc., which Reppert was registered with from 1989 to 2006.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, MML Investors Services, Inc. may be liable for investment or other losses suffered by Reppert’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.