Former MSI Financial Services, Inc. Broker Michael Gnacinski Investment Loss Options

MSI Financial Services

Erez Law is currently investigating former MSI Financial Services, Inc. broker Michael Gnacinski (CRD# 3180067) regarding insurance investment losses. He has been registered with MML Investors Services, LLC in Williamsville, New York since 2017. Previously, he was registered with MSI Financial Services, Inc. in Williamsville, New York from 1999 to 2017.

It is alleged that he recommended his client invest in variable universal life (VUL), which is a flexible type of permanent life insurance policy with built-in savings (allowing for the investment of the cash value). 

Michael Gnacinski Customer Complaints

He has been the subject of one customer complaint, according to his CRD report:

June 2022. “The complainant alleges that when the rep sold her a VUL in 2002, he never told her that it was being minimally funded. She states that the policy is now in danger of lapsing unless she makes a large payment and increases the future premiums substantially. The complainant would like her premiums refunded.” The case is currently pending. The complaint was regarding insurance losses and took place while he was registered with MSI Financial Services, Inc.

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, MSI Financial Services, Inc. may be liable for investment or other losses suffered by Michael Gnacinski’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.

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