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Investor Alleges Antoinette Gega Sold Unsuitable Variable Annuity

Mar 3, 2023 Unsuitable Investments

Antoinette Gega (CRD #: 2406555), a broker registered with MML Investors Services, was recently the subject of an investor dispute, according to her BrokerCheck record, accessed on February 21, 2023. Investors may have also engaged her services through Creative Financial Group. Keep reading to learn more about her alleged conduct as a broker.

Investor Dispute

On January 4, 2023, an investor alleged that Antoinette Gega sold her a variable annuity in 2021 that was unsuitable given the client’s liquidity, risk tolerance, and income needs. The client also alleged that Antoinette Gega failed to properly disclose the fees associated with the annuity. The firm denied the dispute.

Investors should be aware, however, that firms can deny disputes without an outside review. Investors can still seek out FINRA arbitration following a denial and may be able to recoup their losses.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. These profiles describe information about an investor’s risk tolerance, tax status, and investment goals.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deception, manipulation, and other unethical methods to influence investors’ decisions. Misrepresenting an investment’s limitations, requirements, or risks violates this rule.

What are variable annuities?

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying security. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Background Information

Antoinette Gega has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Antoinette Gega is a registered broker in 18 states and the District of Columbia. She is also a registered investment adviser in New Jersey.

She has also worked for the following firms:

  • MSI Financial Services (CRD#:14251)
  • New England Securities (CRD#:615)
  • Pruco Securities (CRD#:5685)

Kurta Law Can Help

If you worked with Antoinette Gega and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.