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Robert Ruff Allegedly Omitted Information Regarding a Variable Universal Life Insurance Policy

Robert Ruff (CRD #: 1856977), a broker registered with MML Investors Services, is the subject of an investor dispute, according to his BrokerCheck record, accessed on August 8, 2023. Investors who have concerns should keep reading. 

On July 20, 2023, an investor alleged that Robert Ruff did not mention the premiums for a variable universal life insurance policy could increase. The investor further alleged that had she been aware of this, she may have reconsidered the purchase. 

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of material information, such as an investment’s potential returns, risks, or limitations.

What is a VUL?

A Variable Universal Life insurance policy (VUL) has two notable features: a tax-free death benefit for beneficiaries and an investment portfolio. Part of each premium payment is invested—but returns depend on the performance of these investments, so the policy is not guaranteed to increase in value. Additionally, VULs are often at risk for lapsing, which can negate their supposed benefits.

Background Information 

Robert Ruff 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 24 General Securities Principal Examination 

He is a registered broker in 21 states and is a registered investment adviser in Ohio and Texas. 

Robert Ruff has only ever registered with MML Investors Services (CRD #: 10409). 

Kurta Law Can Help

If you worked with Robert Ruff and you have concerns about your investments, please contact us today at 877-600-0098 or 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.