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Robert Snider Allegedly Churned Annuities

Robert Snider (CRD #: 2417319), a broker registered with MML Investors Services, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on August 30, 2024. Keep reading if you have questions concerning his alleged conduct. 

Investor Allegations 

On June 11, 2024, investors alleged that Robert Snider churned their annuities. They further alleged that with at least one of these annuities, he appeared to have taken every fourth distribution. 

Churning

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. Trades must be quantitatively suitable, meaning the number of trades must suit an investor’s needs. Each trade comes with a transaction fee, so too many transactions will result in excessive fees for the investor. Excessive trading is also known as “churning.” 

Background Information 

Robert Snider 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 

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

During his 30 years of experience, Robert Snider has registered with three firms: 

  • MML Investors Services (CRD #: 10409) 
  • MSI Financial Services (CRD #: 14251) 
  • New England Securities Corporation (CRD #: 615) 

Kurta Law Can Help 

If you worked with Robert Snider and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com 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.

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