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Investor Claims Louis Bellantoni Recommended an Unsuitable Life Policy

Louis Bellantoni (CRD #:6600373), a broker formerly registered with MML Investors Services, is involved in an investor dispute, according to his BrokerCheck record, accessed on November 22, 2021. 

Investor Allegations 

On October 29, 2021, an investor filed a dispute against Louis Bellantoni. According to the investor’s allegations, instead of telling the client how he could improve the viability of his existing universal life insurance policy, Louis Bellantoni recommended a new term life policy and advised the client to fund it by taking withdrawals from his variable annuity. The client wants all of the premiums that he paid into the term life policy returned to him. The dispute is still pending. Variable annuities are complex investments and are difficult for even experienced financial professionals to manage.  

A broker must have exercised due diligence and have an adequate reason for believing that an investment will also be suitable or beneficial for the investor. Under FINRA Rule 2111, registered brokers may be held liable if they provide an unsuitable investment recommendation or strategy that leads to losses. 

Background Information 

Louis Bellantoni has passed the following exams: 

  • 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 

Louis Bellantoni has also worked with the following firm: 

  • MSI Financial Services (CRD#:14251) 

Kurta Law Can Help 

If you have worked with Louis Bellantoni and have concerns about your investments, don’t hesitate to contact us today 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 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.