Investor Alleges Eric Goldsmith Sold Unsuitable Whole Life Insurance Policy

Eric Goldsmith (CRD #: 4863084), a broker registered with MML Investors Services, allegedly sold a client an unsuitable insurance policy, according to his BrokerCheck record, accessed on June 21, 2023. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On April 24, 2023, an investor alleged that Eric Goldsmith sold him an unsuitable whole life insurance policy in 2021. The client further alleged that Eric Goldsmith invested him in high-fee, high-commission, and potentially unsuitable products. This dispute was denied by the firm.

Investors should be aware, however, that firms don’t need to permit an outside review before denying disputes. Investors can still pursue FINRA arbitration after a denial and may be able to recover their losses.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consult the investor’s profile, which contains information about their tax status, risk tolerance, and age.

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

Background Information

Eric Goldsmith 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

Eric Goldsmith is a registered broker in ten states and a registered investment adviser in New York.

He has also worked for MSI Financial Services (CRD#:14251) and Metropolitan Life Insurance Company (CRD#:4095).

Kurta Law Can Help

If you worked with Eric Goldsmith 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.