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.
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.
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 firstname.lastname@example.org for a free consultation.
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