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Charles Dowds Allegedly Misrepresented Client’s Variable Life Insurance Policy

Securities Lawyer Jonathan Kurta
By: Jonathan Kurta Author
June 23, 2023 at 5:58pm

Charles Dowds (CRD #: 2073605), a broker registered with MML Investors Services, allegedly made misrepresentations, according to his BrokerCheck record, accessed on June 13, 2023. If you want to know more about his alleged conduct as a broker, read on.

Investor Dispute

On May 5, 2023, a client alleged that Charles Dowds misrepresented their variable life insurance policy in the following ways:

  • That subaccount returns and premiums would be sufficient to fund the policy
  • That the subaccounts would be invested into the agreed-upon asset allocations for the life of the policy, starting in 1999

This dispute is currently pending.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulative, deceptive, or otherwise fraudulent means of influencing investors’ decisions. This includes the misrepresentation or omission of information, such as an investment’s potential fees, risks, or returns.

Background Information

Charles Dowds has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Charles Dowds is a registered broker in 12 states and a registered investment adviser in Florida, New Jersey, and Pennsylvania.

He has also worked for the following firms:

  • NewSquare Capital (CRD#:152430)
  • MSI Financial Services (CRD#:14251)
  • New England Securities (CRD#:615)

Kurta Law Can Help

If you worked with Charles Dowds 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 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. 

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