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Investor Alleges Ellen Zimmerman’s Recommendations Led to Losses

Mar 30, 2023 Unsuitable Investments

Ellen Zimmerman (CRD #: 2574244), a broker registered with MML Investors Services, allegedly gave unsuitable recommendations, according to her BrokerCheck record, accessed on March 21, 2023. Keep reading if you have questions about her alleged conduct as a broker.

Investor Dispute

On January 30, 2023, an investor alleged that, starting in or around 2010, Ellen Zimmerman made unsuitable recommendations to surrender, annuitize, and replace various annuities. These recommendations allegedly resulted in the client incurring significant losses and paying multiple surrender charges. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must examine the investor’s profile, which describes the following characteristics:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information

Ellen Zimmerman has passed the following exams:

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

Ellen Zimmerman is a registered broker in Michigan.

She previously worked for Washington Square Securities (CRD#:2882).

Kurta Law Can Help

If you worked with Ellen Zimmerman 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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