Investor Alleges Arkady Milgram Recommended Unsuitable Investments

Arkady Milgram (CRD #: 3152782), a broker registered with MML Investors Services, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on January 6, 2025. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On December 12, 2024, an investor filed a dispute alleging that Arkady Milgram sold her an unsuitable and illiquid variable annuity on or around June 3, 2014. The client further alleged that this investment was expensive and failed to perform.

The client also alleged that Arkady Milgram misrepresented whole life insurance policies in approximately December 2008 and August 2010. These policies were allegedly unsuitable due to their annual premium costs.

This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the investor’s profile, which describes their tax status, age, risk tolerance, and other information.

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

FINRA Rule 2020

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts. Material facts include information relating to an investment’s costs, requirements, and potential returns.

Background Information

Arkady Milgram has passed the following exams:

• General Securities Principal Examination – Series 24
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Combined State Law Examination – Series 66

Arkady Milgram is a registered broker in Arizona, California, Massachusetts, and North Carolina. He is also a registered investment adviser in California.

He has also worked for the following firms:

• NYLIFE Securities (CRD#:5167)
• Mony Securities Corporation (CRD#:4386)
• MetLife Securities (CRD#:14251)
• Metropolitan Life Insurance Company (CRD#:4095)
• American Express Financial Advisors (CRD#:6363)
• IDS Life Insurance Company (CRD#:6321)

Kurta Law Can Help

If you worked with Arkady Milgram and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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 that 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.