MML Investors Services, LLC Broker Leon Almeida Variable Annuity Losses

Posted on Monday, December 2nd, 2019 at 1:08 pm    

MML Investors Services logo

Erez Law is currently investigating MML Investors Services, LLC broker Leon Almeida (CRD# 5645472) regarding variable annuity investment losses. Almeida has been registered with MML Investors Services, LLC in Paramus, New Jersey since 2017. Previously, Almeida was registered with MSI Financial Services, Inc. in Paramus, New Jersey from 2011 to 2017.

Almeida has been the subject of four customer complaints between 2013 and 2019, one of which was withdrawn, according to his CRD report:

August 2019. “The complainant alleges that the rep sold him a new variable annuity in 2016, which was misrepresented, after first advising him that the company that held his existing account wouldn’t be remaining in business.” The case is currently pending. The complaint was regarding a variable annuity and took place while Almeida was registered with MML Investors Services, LLC.

January 2019. “The complainant alleges that the VAs sold to him in 2018 were misrepresented and he wants his investment returned.” The case was settled for $19,038. The complaint was regarding a variable annuity and took place while Almeida was registered with MML Investors Services, LLC.

February 2013. “Customer alleged the representative’s recommendation to invest funds in a real estate investment trust, in October 2012, was not appropriate. Customer has alleged damages as noted below.” The customer sought $25,000 in damages and the case was settled for $24,394.53. This complaint was regarding direct investments and took place while Almeida was registered with Metlife Securities.

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, LLC may be liable for investment or other losses suffered by Almeida’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.

Disclaimer: Clients are responsible for costs. Contingency fee is calculated before deducting costs incurred in the case.