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Katherine McLernon is the Subject of a Variable Annuity Dispute

Katherine McLernon (CRD #: 2108915), a broker registered with MML Investors Services, is the subject of an investor dispute. This is according to her BrokerCheck record, accessed on February 21, 2024. Details concerning the dispute are provided below. 

Variable Annuity Dispute

On December 7, 2023, an investor alleged that Katherine McLernon had her unknowingly liquidate her existing variable annuity. She allegedly engaged in fraud when she placed her customer into a new variable annuity. The investor wants to terminate this new variable annuity without paying surrender charges. The dispute was denied, but investors should know that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration

FINRA Rule 2330

FINRA Rule 2330 requires brokers to have a reasonable basis to believe that their recommendation of a deferred variable annuity is suitable for the investor.

Variable Annuities 

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

Background Information 

Katherine McClernon 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 

She is a registered broker in nine states and is a registered investment adviser in New York and Texas. 

During her 32 years of experience, she has registered with three firms: 

  • MML Investors Services (CRD #: 10409) 
  • Mony Securities Corporation (CRD #: 4386) 
  • Cadaret Grant & Co. (CRD #: 10641) 

Kurta Law Can Help 

If you have worked with Katherine McLernon and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.