Securities Lawyers Blog
According to BrokerCheck records financial advisor Leon Almeida (Almeida), formerly employed by MML Investors Services, LLC (MML Investors) has been subject to four customer disputes and one criminal matter during his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), the customer complaints against Almeida concerns allegations over variable annuity sales practices.
In August 2019 a customer complained that Almeida violated the securities laws by alleging that Almeida 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 claim is currently pending.
In March 2019 a customer complained that Almeida violated the securities laws by alleging that that the AIG Variable Annuity Almeida sold to him in 2018 was an inappropriate investment and he would like his money returned. The claim was withdrawn.
In January 2019 a customer complained that Almeida violated the securities laws by alleging that the VAs Almeida sold to him in 2018 were misrepresented and he wants his investment returned. The claim settled for $19,038.